There are hundreds of reason to purchase and own life insurance, but I made a list of the 10 most popular reasons to buy life insurance that I have found in my 20 plus years of selling life insurance policies. Everyone’s situation is as unique as their needs are, in case of an unplanned death. Don’t make your loved ones beg on Facebook with a GoFundMe page after your demise. Take care of family after your gone the same as you do when you are here. Life insurance is the most affordable way to say I love you when you are young and healthy. Don’t wait until it is too late to contact a life insurance agent near you.
Number 10. To create an instant tax-free estate, especially if your demise is early in life.
Number 9. To pay certain tax issues to be solved at death
Number 8. The need to liquidate stockholder’s interests in your business.
Number 7. To leave money to your favorite charity.
Number 6. To be sure your children get a college education and are cared for growing up.
Number 5. To fund your buy/sell agreements in business assets
Number 4. To pay off your debts and your mortgage for your loved ones.
Number 3. To protect your family/loved ones from financial ruin or burdens from debt.
Number 2. To pay for final expenses such as medical bills, funeral bills, burial expenses, etc.
And the Number 1 reason people buy life insurance….Income replacement
I have been in this business long enough to see financial disasters left behind for the deceased family members to deal with while they grieve. Don’t leave your loved ones in a mess. Buy life insurance today. Tomorrow is never promised to any of us.
“While I thought that I was learning how to live, I have been learning how to die.”-– Leonardo da Vinci
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Tim Wilhoit is owner/principal of Your Friend 4 Life Insurance Agency in Nashville, TN. He is a family man, father of 3, grandfather of 3, entrepreneur, insurance agent, life insurance broker, employee benefit specialist, salesman, sales trainer, recruiter, public speaker, blogger, author and team leader with over 32 years of experience in sales and marketing in the insurance and beverage industries.