10 Reasons to Take Out Life Insurance
Protect Your Family
I am often asked by friends what is the importance of having life insurance and is there really any point in having it; one friend has even suggested that it is nothing more than a money making scheme hatched by the banks.
Everyone has their own needs and each persons circumstances are very different. I don't have a standard quote answer as to why you should take our life assurance, however, one way to look at it is that if someone stands to lose financially by your demise, it may be a good idea to think about protecting them with some life cover.
Here is a list of 10 reasons that you might want to take out life insurance:
- protect your dependants from debts
- leave an inheritance for your loved ones
- pay for funeral expenses
- pay any outstanding bills
- offset inheritance tax
- protect your business
- make a donation to a charity or good cause
- create an income for dependants
- pay off a mortgage
- leave a special gift for a loved one
August 26th, 2009 - 23:53
I think that it is especially important when you are younger and are raising a family, but once the family have fled the nest, and (hopefully) your mortgage is paid, then time to think about putting extra into a pension scheme instead.