Why Should I Own Life Insurance?

Life Insurance

There are many different reasons to own life insurance, but sometimes we don’t think of the burden of loss to our family should we pass away. Nobody likes talking about the thought of dying, but there’s no better way to take that issue out of a conversation than by owning life insurance.

The first reason to own life insurance is to replace lost wages. You don’t think about how much you will earn in your lifetime, but what happens to your retirement if your spouse passes away? That accounts for half of your retirement savings! Not to mention if just a single spouse is the wage earner for the family. That loss of income would be catastrophic.

You work so hard to get a house, how devastating would it be for your spouse and children to lose it and have to take a big step backward and start renting again.

One of the biggest reasons to own a simple term life policy is to help pay off that mortgage for your surviving spouse

Another strong reason is the burden of student loans for college. We all want to see our kids get ahead in life and while saving for our own retirement should take precedence, helping your children get ahead is concern for many. Coming out of college with a huge student loan can weigh heavy on a graduate who’s fresh in the work force trying to survive. Most parents are willing to ease this burden, but what if you pass away? Having life insurance would give you peace of mind knowing your children had a clean start

These are just a few of the reasons to own life insurance. The list can go on and on. No one is ever prepared for the loss of a loved one, but having life insurance in place can certainly help ease the loss. 

About the author: Mark Yurkovic has been in the life insurance business for over 12 years, and holds CLTC, LUTCF, and CES designations. He enjoys building remote control boats, and playing instruments including the piano, guitar, banjo, and mandolin. Mark would love to discuss life insurance options and work towards finding the best policy fit for your family. You can contact Mark at 1-800-651-1953 or MYurkovic@Pivot.com