Why Young People Need Life Insurance
Few young people consider life insurance for themselves until later on in life. While life insurance is beneficial to persons of all ages, those who purchase it from life insurance companies in Fort Worth, TX when they are young, have a distinct advantage. The reasons why young people need life insurance include:
Funeral costs are one reason for having life insurance, and when you are young, you are less likely to consider death. Funerals can cost $10,000 or even more. Insurance takes the financial burden off your family in the event you were to die.
The ability to save you significant money on the cost of premiums provides a primary reason for purchasing life insurance when you are young, and healthy. Purchasing insurance now from a Box agent with our life insurance companies in Fort Worth means you pay less than waiting to purchase it when you are older.
The Birth of a Child
Young couples often realize the need for life insurance after the birth of a child. Purchasing it ensures your family’s financial protection should something happen to you. In addition, the costs of college tuition, insurance, and of raising children, are valid factors to consider in determining the amount of insurance required. In addition, purchasing a policy with a cash value provides the ability to borrow against it should the need arise.
Contact our agents today at our life insurance companies in Fort Worth for the information you need to make an informed decision.
For young persons, there is no better time than now to purchase life insurance. To obtain a quote from a Box Insurance Agency agent, contact our life insurance companies in Fort Worth, TX.
Purchasing a Home
The purchase of a home is a rational reason for purchasing life insurance. In the event of your demise, the policy will ensure your family does not have to face the inability to make mortgage payments. The cost of the home is one of the factors to consider when determining the amount of a policy.
Many persons have life insurance through their employers, and it is worthwhile to consider whether you will be able to retain the policy if employment were lost for any reason. This is why numerous families prefer to maintain insurance on their own. Remember, age and health can affect the cost of a life insurance premium, and if something unforeseen were to occur with your employment, replacement when you are older, will be higher. Contact Box life insurance companies in Fort Worth for free insurance quotes.
Update Your Insurance
Life insurance is a long-term investment in your family’s financial protection. It is wise to review the policy when major life changes occur, or every few years.
Young and Single
Single persons should also consider life insurance, and especially those who support other family members. Single persons may be responsible for parents or grandparents, and will want to ensure their loved ones will be cared for in the event something happened to them. For single persons who plan to marry, and have children one day, purchasing a policy now at 21 will cost significantly less now, than waiting until age 35, for example.
Remember, rates tend to increase with age, and if a major health problem occurs later, the cost of acquiring a new policy may become prohibitively expensive or even impossible to obtain. There are numerous types of life insurance, including those with a fixed premium. Contact an agent today with our life insurance companies in Fort Worth to lock in a low rate while you are young and healthy.
To Purchase a Business Partners Shares
If you have a business partner, insurance on a partner’s life is highly recommended. If your partner dies, the money to buy his or her shares from their heirs will be available, and the money to pay for a deceased partner’s obligations will take the burden off yourself.
To Pay Off Estate Taxes
Estate taxes can be extremely high, and having insurance to pay them will avoid jeopardizing assets or retirement funds that your family will depend on. Insurance for this purpose is more common with larger estates, and uses permanent insurance rather than term life insurance to ensure the continuance of coverage until the end of life. A Box Insurance Agency agent can provide the information you need regarding the different types of insurance available. Contact our life insurance companies in Fort Worth, TX today to schedule a conference.