10 Reasons To Get Life Insurance In Vancouver Bc
Getting a life insurance is one of the most important part of your financial planning and financial goals.. Many people dont even know the reason why they may need a life insurance plan. There are very clear benefits for purchasing a life insurance policy. Is life insurance something that you really need, or is it merely an inconvenience shoved under your nose by a salesperson? While it may seem like the latter is true, there are actually many understandable reasons why you should buy a life insurance.
Top Reasons to Buy Life Insurance
- Life insurance policies in Lower Mainland Bc is affordable : You can get a few hundred thousands coverage if you pay few hundred dollars per year .
- To Replace your Spouse’s Income: If your spouse passes away while your kids are young, you would need to replace your spouse's income
- Life insurance allows you to protect your dependents: :Your term life insurance may be enough to cover your mortgage, but what about other debts? Just in case something happens , you need term life insurance plan so your loved ones can pay expenses. You don’t want to leave debts behind to your family .
- Life insurance can pay for your funeral: The cost of a funeral and burial can easily run into the tens of thousands of dollars, . If you do not have a life insurance policy, your loved ones will have to pay for all these expenses from the money they inherited or worse- pay out of their own pockets if you don't leave any money behind.
- Tax Free Inheritance: Your beneficiaries do not pay taxes on the death benefit that they receive upon your death.
- Cover your children's education: You can cover your childrens' future education expenses if you are not there to provide.
- Show an example of responsibility and family values for your loved ones
- To protect your family if you lose a job or change jobs that had provided life insurance.
- Buy your Business Partner’s Shares :If you are involved in a business partnership, you need insurance your my partner’s life. The reason is so if he dies, you will have enough money to buy his interest from his heirs and pay his share of the company’s obligations without having to sell the company itself.
- Build cash value :Whole or universal life policies offer a tax-advantaged way to build cash value.