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Life Insurance: 5 Reasons Why Now is the Right Time to Buy

1. It Makes Financial Sense

Life insurance is the foundation on which the rest of your financial plan should be structured. Under certain types of policies, you may receive significant dividends from the insurance company, whereas others may allow you to accumulate investments within the policy itself. Here too, some will allow your investments to grow tax-free or let you borrow against cash value. The life insurance strategy you choose will depend on your unique needs but should be the first step in securing your financial future.  

2. It’s Affordable

Speaking of finances, with today’s flexible range of products and price points, life insurance premiums are more affordable than ever. In addition, premiums tend to increase along with your age and state of health - the earlier you lock-in, the more affordable your insurance will be long term.

3. You Have a Family (or are thinking of starting one) 

One of the primary incentives for investing in life insurance is to protect your current or future family. Should something happen to you, you can rest assured your family will have the finances they need to handle the sudden loss of income (including debts, regular monthly expenses and more).

4. You’re Carrying Debt  

Whether it be student loans, a line of credit, credit cards or a mortgage loan, life insurance is a must-have if you’re carrying debt. While some loans may be forgiven upon your passing (depending on the terms and conditions outlined in your contract), in most cases, your debts will transfer to your loved ones. Life insurance is essential for protecting those you care about from financial burden, should the unthinkable happen.

5. It’s Convenient and Flexible 

In addition to being able to adjust your premiums to your unique financial situation, some policies will allow you to increase or decrease benefits as you age, bundle with other types of insurance coverage and much more. Even better, you’ll have peace of mind knowing your needs are covered with one predictable monthly or annual payment.

See Ratehub’s Types of Life Insurance for more information

Talk to Your Broker

Life insurance is an important decision. For this reason, we recommend enlisting the help of an expert insurance broker who can help you zero-in on the best policy for your personal and financial needs. Not only will he or she get to know you and your goals, but they’ll also advocate on your behalf to ensure you get (and continue to receive) the right life insurance product.

Let us help ensure you and your family are covered. Contact us today to receive a quick and easy quote or to set up a free consultation!

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