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Why You Need to Buy Life Insurance

Some people only purchase insurance that is legally required. They buy home insurance because they have a mortgage and vehicular insurance because of legislation. However, fewer think to buy life insurance. This is a shame as it provides a form of tenable protection.

Reasons for Buying Life Insurance

Life insurance provides a layer of financial protection in an increasingly unpredictable world. The right coverage offers:

  1. Financial protection: This acts as a tax-free income replacement for your family if you unexpectedly die. It will cover such ongoing expenses as:
    • Mortgage payments
    • Health care services for spouse and any children
    • Education expenses
    • Those involved in continuing to operate a family business
    • Personal loans taken out prior to death
  2. Retirement Coverage: It replaces any insurance coverage formerly covered by your employer
  3. Growth: A life insurance policy continues to grow in cash value as you continue to pay premiums. It can be channelled to help pay for a variety of expenses and to supplement a variety of life changes

If you want, before you buy life insurance, you can tailor it to meet specific needs. You can add riders that can address specific potential situations.

Why Buy Life Insurance?

There are many reasons for purchasing life insurance. They differ according to individual needs. But, in the end, it all may be reduced to one singular reason – financial security. It is the desire to ensure the economic well-being of yourself and everyone you care about in Springfield OR.

Click here to Buy Life Insurance in Springfield OR

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