The importance of life insurance and what it can do for you
Wait, we’re talking about what?
While death is something that people do not necessarily enjoy talking about, or even spend much time talking about, it is simply a part of being human. We are all born and we all face death at some point in our lives. Some face death earlier than others, and some more unexpectedly. The truth is that nobody knows with certainty when they will die. That is why it is so important to make sure that you start looking at Cleveland life insurance policies as soon as possible. The future is unpredictable, but by taking some precautions and being on top of things, you can make sure that even if the unexpected happens, you and your family are prepared to face it.
Protect your family
If you are one of the providers in your family unit, and especially if you are the sole provider, you want to make sure that your children are taken care of financially when you pass. If you do not have a proper life insurance policy set up, then your family could be in a lot of financial struggle. If some unexpected tragedy happened to you or your spouse while your children are still young and need childcare, this situation would be even more tragic. This would affect your family greatly because it would be hard for one spouse to take care of the children and work, and on the other hand it would also be hard to support a family and pay for childcare on one salary. Do everyone in your family a favor and make sure they’re taken care of by ensuring that you have a cleveland life insurance policy set up. If you don’t already have one set up, contact us today to learn more about how we can help you make sure that you get all of the coverage that you need.
When you pass away, your debt unfortunately does not just disappear. As nice as that would be, that is not the case. So what actually happens to your debt when you die? The truth is that any debt that you have, be it from cars, your house, or your credit cards... all of the debt is passed along to someone else. Unless you want someone else to have to carry the burden of any of your debts, it is vital that you look into a Cleveland life insurance policy. Not only should you think about your house, car, and credit card debts, but you should also consider any business debt that you may have if you are a business owner. This is usually not the first thing that you think about when considering Cleveland life insurance, but it is important to remember if your business does have any type of debt.
Leave your family money
It is very important that you set up where your money will go when you pass. This is vital to your children, as you could allow them to inherit money that could fund their college educations or help them to start their dream business. When you set up your Cleveland life insurance policy, you can choose to name your children as beneficiaries, allowing them to access the funds that you will be leaving behind.
We already talked about how if your business has any debts, those will be passed on to the people in your family that are still living, but we also wanted to bring up another point to any business owners out there who are reading this. If you are a business owner, it is important to think about the fact that someday, you unfortunately will not be here on this earth to manage that business. So who is next in line to receive said business? It is important that you talk these things over and get your policy set up so that you have someone in line to receive the business. This is the best option, as you have probably worked very hard to build your company up and would probably like to have a say in who receives it upon your passing.
Funerals aren’t cheap…
Funerals are already sad and stressful enough, but on top of that, the cost of the funeral can also cause unnecessary financial strain and put even more burdens on a newly widowed person, or an older child who lost their parent. Your life insurance policy can help you to pay for the expenses associated with a funeral, saving you the strain and stress of doing it all on your own. Another thing to keep in mind is that some policies will even cover medical expenses that were not covered by health insurance.
What are you waiting for?
By this point you are probably pretty tired of talking about what-if’s and death, but as unattractive as the subjects of death and life insurance are, they are very important topics to think about. We hope that if you read this article today not having a Cleveland life insurance policy, you have begun to understand how essential it is to both you and your family. Not only do we hope that you understand how important it is… we also hope that you give us a call or send us an email today to learn more! We would love to answer any questions that you may have and to meet with you to create a customized Cleveland life insurance policy that will benefit you and your descendants to come.