Streetsmart insurance Blog
In the beginning, life insurance was first created for supporting children and widows. The design was to protect them from terrible losses that would lead to financial difficulties. Through the years, the reach expanded and the offered protection makes it crucial for the four types of people below.
Although the married life and eventually having a family is exciting, there are specific responsibilities we partake in return for that joy. Whether it’s the wife or husband to stay at home that does the full-time job in monitoring and raising the baby. However, if one dies tragically, then the burden of nurturing the infant while generating income will become a heavy weight on the shoulders. Having a life insurance policy is ideal for starting families as a means of added protection from unexpected losses.
Of course, as the children grow, so does the necessary income and responsibilities to support their studies, wants, and needs. The more mouths to feed, the more money you’ll need. As it goes without saying, additional children come with more expenses. On the other hand, although there is a higher need for insurance, the death benefit also increases to protect the entire family.
Life insurance is also essential for newly married couples, even without having dependent children to look after, especially if the death of the spouse makes it difficult for the partner to meet their needs financially. This is most likely true in most cases. Even if the couple earns a decent salary, more often than not, your expenses (mortgage, car, living expenses) will increase as to where your earnings are required for paying your necessities. Even wealthy married couples need life insurance to protect their spouse.
Investing in a life insurance policy for your parents as the oldest child is also an act of love and care. One of the worst possible things to happen is for both parents to die tragically without leaving their children any death benefits. If the mom and dad are not interested in committing to investing in a policy, then the oldest chile can take that responsibility to protect their younger siblings.
Even if you’re not among the listed above, having life insurance is still essential, especially if you are a business owner, a person with debt, a home buyer, and an adult caring for elderly parents. Ask your insurance company plans that will benefit you.
At Street Smart Insurance, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (732) 462-8343. You can also request a free quote by CLICKING HERE.