Many people think that life insurance is something they can do without. They think it's an expense that they don't need to worry about, but this couldn't be further from the truth. Life insurance is a necessity for everyone in order to provide for loved ones when you're not around anymore. Why buy life insurance? Why get the best life insurance? Why should you have any if there are so many expenses in your life already? The answers: because you want to provide for your loved ones and because it's never too late!



We all know that life insurance is important to have in the event of a major tragedy or emergency. But, how do you find the best deal? Well, let's compare life insurance side by side and get free quotes from leading companies. This way we can make sure we are getting the most for our money! We'll look at four different types of coverage: term life insurance (covers death), whole life insurance (covers death), disability income protection (helps pay expenses if unable to work) and critical illness coverage (covers illnesses like cancer). Remember, it's always smart to compare before making your decision so you don't end up with an expensive monthly payment or worse yet no coverage at all!

Here are the top ten reasons to buy life insurance: 

- To provide financial stability for your family

Using life insurance to provide financial stability for your family is a great idea. It can help offset the burden of mortgage or other debt should you die, and it will provide a financial safety net for your spouse who may need to take time off work to care for children or other family members. 

If one partner in the relationship dies, that person's income would make up on average 40% of their household income. When you have dependents, this is a big deal. 

- To provide financial stability for your business

In the event of an untimely death, life insurance can be used to pay off any outstanding debts or liabilities and keep assets out of probate with a quick payout to the beneficiary you designate in advance. This will allow you time to cover what could be a temporary gap in your business's income (especially if your business has employees), and maintain the financial stability of your company post mortem. 

- To protect dependents

The loss of one person from a household can cause major stress on that family unit financially, in fact , 40% of the average family's gross income is made up from one person. 

- To provide for a new baby

Some life insurance policies offer an additional death benefit that will pay out to your beneficiary in addition to regular monthly benefits, should you pass away while pregnant or within 12 months after giving birth. Why not use this? You're ensuring your baby will have financial stability for the rest of their life and can grow up without worry.

- To provide for a child's education

Many people are not aware that if you pass away, your college savings plan is usually included as part of the death benefit from your policy. In terms of this specific benefit with life insurance, you can make sure your child is able to reach their goals without worry. Why not use this? You're ensuring that they have the funds available, as well as a safety net for any other expenses or emergencies.

- To provide a secure retirement

The average person spends more than half of his or her adult life working just to retire, and that's a lot of income to go without if you don't have life insurance. Why not use this? You're ensuring they will be able to retire and live out their golden years with ease, knowing that there are enough funds set aside for retirement expenses in case something happens. Especially for your loved ones. 

- To provide an inheritance for family

In the event of your death, life insurance can provide a valuable inheritance for their future. You're ensuring that they are able to live the way you want them to in case something happens and you die prematurely.

- To protect loved ones from financial burden

When someone loses a spouse or parent, there is often an undue financial hardship and this is one way to lessen this burden. 

- To pay off debts quickly and without penalty

If you die prematurely, life insurance can provide a valuable source of funds for your loved ones to use in paying off outstanding debt. 

- Why buy more than $500k? If the cost of living doubles over time . 

To be upfront about it, most insurance companies will not pay out more than $500k. There are some exceptions to this rule but they are rare and usually a result of the person being very high-profile or wealthy.

 

In conclusion, life insurance is something that every person should have. Why not protect what matters most? 

We carry the advantages of consumer reviews. In other words, you're stepping into policies that have been reviewed. You can get a policy with the coverage you need. With Drop My Bills, It's easy to compare policies and find one that suits your needs. Lastly remember if you buy life insurance, Your family will be taken care of if anything happens to you and you'll live life without worrying about what would happen if something happened to you.