When you were younger, you may have not considered a life insurance policy. But now that you have dependents, it’s important to consider who will take care of them if you die. Answer the following questions to determine if a life insurance policy is a wise investment for your future.
- If you are in a relationship where you and your partner both work, if something happens to one of you, can your family survive on one salary?
- If your spouse doesn’t work and would need to find a job, would she or he be able to afford childcare costs? Is there a way you can make sure your spouse won’t need to join the workforce?
- Families and couples can live much more frugally than a single person or a single parent with children. Could your spouse afford your home?
- Would your spouse be able to afford funeral costs of $6,500 (the national average, according to the National Funeral Directors Association), up to $10,000 or more?
These are all compelling questions to consider, and the answers can show you exactly why you need a life insurance policy.