Reasons to Buy Life Insurance Today

Here at Informed Financial Growth, one of the many financial services we offer is life insurance. Buying life insurance is one of the most unselfish decisions someone could make. It is the act of being accountable for our debt and, as a parent, taking responsibility for our children and family obligations when we are no longer able to do so ourselves.

Many people don’t buy life insurance because they believe they can’t afford it. However, there are many kinds of life insurance, and with the proper planning and budgeting, the need can be adequately covered quite inexpensively. Don’t wait till the last minute to buy insurance because if you’re at the point when you really do need the insurance, you are probably at that point “uninsurable”. Remember – you wouldn’t buy car insurance after you’ve had an accident. The same is true for life insurance.

As well, you need to bring up the subject with your spouse. You may both be assuming the other may not be open to the idea of buying life insurance, when, in fact, it may have crossed both your minds. Talk it over, determine the need and the most affordable plan. If you have group benefits where you work, you probably already have some insurance, but don’t assume this is enough. Know exactly what you are covered for and fill the additional need with private coverage. Remember – if you lose your job, get laid off or get sick and become unemployed, your group benefits and life insurance may terminate, potentially leaving you vulnerable and uninsurable. It is always better to have some private coverage. Talk to one of our Peterborough financial advisors to find out what is best for you.