6 Reasons Why You Should Buy Life Insurance

why you should invest in Life Insurance

Nobody likes to think about how they’ll die. What comes after can be scary, and there’s no way to know for sure when your time will come. What we can do is make preparations while we’re alive. That’s where life insurance comes in. Everyone needs life insurance, but few people actually take the time to get it. The best time to purchase a policy is actually when you’re young and healthy. The longer you wait, the more expensive it will be to get coverage. Learn all about Life insurance here.

If you’ve been keeping insurance on your endless to-do list, this article is for you. We’ll discuss 6 reasons why you should buy life insurance right now.

why you should buy life insurance

1. Replace Lost Income with Life Insurance

The most common reason people choose to have life insurance is to replace lost income. What does this mean? It’s a form of financial security for your loved ones if you pass away. This is especially important if you’re the primary breadwinner.

If your loved ones rely on your income to cover the bills, you need life insurance. A startling 70% of U.S. households would have trouble meeting everyday living expenses within a few months if the primary wage earner in the home died suddenly. If you suddenly passed away, your loved ones would be left helpless to cover their own bills.

2. Cover Debts

If you die, that doesn’t mean your debts die with you. Your spouse or anyone who has co-signed loans with you will be on the line for these payments. If this fails, debtors might try to collect from your estate. This is not what any loved one wants to deal with after you’ve passed. Instead, life insurance can cover these financial responsibilities so they don’t become a problem.

3. Burial Expenses

Burials and funerals are an expensive business. Unless you prepay for your funeral, your family could be on the hook for rising funeral expenses. The average cost for a funeral today is over $7,000, and that’s a lot for a mourning family to worry about. Life insurance offers a way to cover all of these expenses so your loved ones don’t have to worry.

purpose of life insurance

4. Cash Value

Did you know that life insurance can also be a financial tool while you’re alive? While term life insurance is only limited to a period of time, whole life insurance is permanent coverage the only ends if you cancel your policy. This means you can build cash value over time that you can always tap into.

5. Business Expenses

Another reason to buy life insurance is if you own a business. As a business owner, you want to make sure that all of your hard work doesn’t go to waste if there’s an accident. With life insurance, you can offer financial help to your business partners after you’ve passed away, making sure your business can survive.

6. Life Insurance – It’s Affordable

Last but not least, life insurance coverage is extremely affordable. It’s so inexpensive that there’s no reason not to get coverage for yourself or your loved ones. You can choose between term coverage and whole (also known as universal) coverage, but term insurance is generally more affordable.

Also, read Make Digital Payments Online.

The sooner you start paying for health insurance, the less costly it will be. When you start as a young, healthy individual, your rate is incredibly low. You can get coverage for only a few dollars a day, and it’s worth endless peace of mind for yourself and your family.

Protecting Yourself with Insurance

explain the need of life insurance

It’s essential that you protect yourself with the right insurance plans. Life insurance is something everyone should think about, even if they’re young and healthy. It’s hard to imagine what will happen when we’re no longer around, but life insurance makes this easier.

Don’t just stop at life insurance. Other supplemental coverage options aren’t included in traditional health insurance, and they’re just as important. For example, dental insurance isn’t included with traditional health insurance but it’s vital to protect your teeth as you age. Read more to find the best plan for you.

Armed with the right supplemental insurance, you can feel confident about tomorrow. Things happen, and the best thing you can do today is protecting yourself for the future.


© Dipika Singh. Unauthorized use or duplication of this material without express and written permission from this site’s author is strictly prohibited. Excerpts and links used, provided that full and clear credit is given to Dipika Singh (Gleefulblogger). With the right and specific direction to the original content.

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  1. Sach me life insurance bahut jaruri hai ye husband ko unke angioplasty k time samjh aaya aur uske baad hi humne bhi plans liye

  2. Great post. Life insurance is an important aspect in today’s scenario. It gives you a cushion and gives you peace of mind in case of any unforeseen scenario.

  3. This post enlightens the importance of investing into life insurance. This is a must for all even though we are not earning member.

  4. We all need Financial security for our family.Life insurance are much needed for the same.
    You have highlighted major points in this blog.Truly helpful.

    1. Pankti Hemant Parmar


      Very useful post for everyone as how one has to give secured life to family. Thank you ma’am.

  5. Very well sorted post that clear many doubts about life insurance. Will keep these tips in mind

  6. Pankti Hemant Parmar

    Very nice and informative, It is very essential to make provision for family during young age.

  7. Life insurance gives you a power to live life free from money tensions. Quite an insightful post.

  8. The kind of lifestyles we lead in today’s times, it’s pertinent that everyone should have life insurance. Your reasoning is absolutely valid. I agree 100%.

  9. Dipika I really liked this post, well explained.. Life insurance is must. Hope more and more people understand its need.

  10. I never knew about the burial expenses coverage from life insurance. I’ll check it out with my insurance plans if they do work on that. Thanks for the informative article.

  11. I agree with you Dipika, people should think about investing in life insurance when they are young . Nobody can imagine their family suffering with debt & other expenses if they are not around especially in case he/she is the single earning member of the family.

  12. I have never really thought of considering to buy a life insurance. I always thought it would be heck lot expensive! Glad to know that it is affordable too. 🙂

  13. Gone are the days when only the man of the house would have Life insurance. I strongly believe we all should have one in our name. And I strongly agree with the reasons mentioned by you.

  14. A lot of people don’t take life insurance seriously but it’s an important investment that must not be ignored.

  15. Yes life Insurance policy is very must….because at starting we think that it’s not useful…but the when we have to face the problem at that kind…we knows the value of policy…. dipika in so simple words u explain….great…

  16. Very informative post buddy and yes for the valid reasons stated by you, one must undoubtedly invest in insurance

  17. These are some good pointers to keep in mind before buying an insurance though ‘burial expenses’ is one that generally people don’t look out for.

  18. Very informative and must read as it’s the need of the hour to stay insured.

  19. This is quite an important topic to discuss on, every individual should think about life insurances.

  20. Very important yet most un-discussed topic you have picked! Financial security is something that’s either ignored or procrastinated big time in our society.

  21. Life Insurance is absolutely important to ensure family’s financial security. Thanks for informative post.

  22. I guess when we are young we do not pay heed to life insurance …but we should all invest in life insurance that covers us in terms of medical expenses.

  23. This is a very useful post. It cleared many doubts regarding life insurance for me.

  24. Life Insurance is so imp.. I loved reading your post it’s so informative… thanks for sharing dear

  25. I too agree that financial security is very important for family and kids and glad that you have shared this post with right pointers!!

  26. Thanks for sharing this post. Life Insurance is a must have and one should think logically and invest in a good cover. It gives peace of mind in case of unforeseen circumstances.

  27. This article mentions valid points. Life insurance is indeed necessary for everyone. We shouldn’t miss out on it.

  28. It is essential to buy Life Insurance as it takes care of unforseen eventualities. Also, Life Insurance is also a good tax saver and can be a good investment too.

  29. I agree life insurance is much needed in these days for family security. Thanks for covering all the points. It will people who are not aware of it.

    1. Thank you for stopping by.

  30. I guess today’s generation needs it the most because of the lifestyle we lead. Older generations believed in saving however with the changing mindset, it’s all the more important that we take stay insured.

  31. Thinking about life insurance is so hard as one comes face to face with one’s own mortality! Yet as you rightly point out it is important!
    Honestly, I never even thought about dental insurance… Great advice!

  32. Life insurance is a necessity… One cannot survive in today’s world without that! It not just helps the owner but also his family! Great post!

  33. A very important topic with various segment of people having varied interests and opinions on this topic.

    Utpal Khot

  34. I think this is as essential as receiving education. You need to make sure you and your kids have a secured life. Sharing this vital piece of work 🙂

    1. Thanks for stopping by.

  35. As they say- Insurance should always be bought and not sold. But Sadly, In India, we use different terms to explain the damages and hence insurance was always confusing for many and hence Insurance is mostly sold by the salesperson. It is high time we understand the importance and buy something that caters to the basis of our needs our lifestyle.

    1. True, because we still keep emotions above practical choices. Thank you for stopping by.

  36. Life insurance is a very important aspect, and as important it is, the more lenient people are to it. It is an important life choice and to make the right decision we need to be well informed, thank you for sharing this with us 🙂

    1. Thank you for stopping by.

  37. Life insurance gives that confidence to live happily in future.. Buying life insurance is definitely a very good choice ..

  38. Agree with you!!!!
    Everyone must understand the importance of life insurance. This should not be avoided in any case!!!

  39. […] Also read why to invest in Life Insurance, here. […]

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