10 Signs You Need Life Insurance Is it time to take a closer look at life insurance? We all want to ensure that our family is taken care of, but many of us feel uncomfortable talking about the topic or taking action regarding getting coverage. With this in mind, we've put together 10 signs you need life insurance. Whether you're looking at covering your own needs or those of someone else, these signals could tell you that now is the time to secure peace of mind with an insurance policy. Read on for everything that should prompt you to learn more and how life insurance can best help your family during tough times!
1. You Have a Spouse and Children Who Depend on Your Income: Individual life insurance can provide financial security if something happens to them. It's essential to consider the impact a lost income can have on your family, and individual life insurance can replace it.
2.
You Have a Large Amount of Debt:
If you were no longer here, individual life insurance would help protect your family from having to take on the burden of outstanding debts such as credit cards, mortgages, and auto loans.
3.
You're Self-Employed or Run Your Own Business
Individual Life Insurance is crucial to help protect yourself and your business against financial hardship in a worst-case scenario. It can also provide much-needed liquidity when attempting to sell or transfer ownership should something happen to you.
4.
You're a Stay-at-Home Parent
If you're a stay-at-home parent, individual life insurance can help cover the cost of hiring someone to take over your duties, such as childcare and household tasks.