As time moves forward and you find yourself getting married, having kids, buying a house, or even starting a business, it is important to understand how life insurance can play a big role in your family and loved ones' lives. 

What is Life Insurance?

Life insurance is simply a contract that guarantees that a certain amount of money will be given to any named beneficiaries when the person passes. This is done by the person with life insurance, who is paying premiums during their life. There are many different types of life insurance policies including term, universal life, whole life, and so many more. Each type is different to meet the different needs and preferences people have. And how much life insurance you buy is different for everyone too. This is because the amount of money the beneficiaries would need to continue to maintain their standard of living is different in each case. 

Aside from understanding the basics, there are some very important reasons to get life insurance. Here are some reasons you should consider getting life insurance:

It can Protect Your Family and Loved Ones

If you are the one supporting your family financially, then having life insurance is important as your life insurance will replace your income. They may even need to cover other costs for day-to-day household tasks, like cleaning, laundry, cooking and childcare.

Set Up as an Inheritance

You can use life insurance as a way to give your children or other members of your family an inheritance by naming them as your beneficiaries on your policy.

Pay Off Debts and Other Expenses

Just like how your life insurance will help your family with their financial needs, life insurance can also be used by your family to pay off your debts and other expenses. This can include car loans, credit cards, mortgages, and other debts you may leave behind. 

Handle End-of-Life Expenses

Life insurance policies with specific benefits can help your loved ones pay for expensive end-of-life expenses, like funeral services, headstone costs, and the burial. 

Protect Your Business

Having life insurance as a business owner can help make it so your partners and employees are not left out to dry. Having life insurance with specific benefits will help your business stay afloat while things settle. 

Will Give You Peace of Mind

No amount of money can ever replace you or someone in your family, but having life insurance can give you peace of mind knowing that your family will not have to worry about finances. Life insurance not only financially protects your family, but also helps them through a tough time of loss.

Life insurance makes it possible for you to protect your family and loved ones, and there is nothing more important than providing for and protecting your loved ones. That is why at Small & Son Insurance we help you insure the most important things in life. 

Interested in insuring what matters most? Give us a call today at (570) 421-0111 or check out our website for more information.