Do I Need a Life Insurance Policy?

As you age, there are many things that you need to start considering. Events that used toLife Insurance - Option 2.jpg seem so far off are slowly creeping up. It’s about this time that you should take getting a life insurance policy into serious consideration. 

After all, when exactly is ‘the right time’ to get a life insurance policy? Is it when you turn 18? When you graduate college, perhaps? What about when you get your first job after graduation, or when you get married?

Thankfully, there are a few guidelines that can help in determining whether now is the time to begin looking into getting a Massachusetts life insurance policy. These guidelines include:

Having a spouse (or other person) dependent upon your income.

We know that you work hard to make your money. If any of that income is used to support anyone other than yourself (whether it be a spouse, parent, or anyone else) you may wish to guarantee that those persons would not be left helpless in the event of your passing. Protect them by investing in a whole or term life insurance policy.

The money that they would receive in the event of your passing could potentially help them to cover expenses such as groceries, utility bills, and car and home payments. 

Having children in your household that are under the age of 18.

As with ensuring the protection of a spouse or other dependents, your children need financial security. If you have a life insurance policy, you can ensure that they will be able to cover their living expenses upon your passing. If you desire, this can also be earmarked to help your children cover the costs of their secondary education. 

Being unprepared for your end of life expenses.

Even if you don’t have any dependants, you still may want to consider getting yourself a life insurance policy. As you probably are aware, there are expenses associated with passing away. These can include:

  • The cost of a casket or urn
  • Embalming or cremation
  • A gravesite and burial expenses
  • A headstone
  • Fees associated with the funeral home
  • And more

As you can see, there are many things to consider when determining your end of life expenses. If you don’t currently have money put aside specifically for this purpose, your family members may be stuck carrying the burden. You can also circumvent passing on this burden with a life insurance policy!

If any of these situations apply to you or someone you know, please call and speak to one of our agents! We can help you wade through all the confusion and determine whether or not an insurance policy would be beneficial to you and your family. 

We can also help you determine whether you would be best suited by a whole or term life insurance policy (as well as explain the differences between the two), and can help you figure out exactly how much coverage you should have! So don’t hesitate – give our agency a call now!

Vargas & Vargas Insurance is committed to helping you get the right insurance coverage for you at the best price. We have information at our site on life insurance and other insurance products to consider in your financial plan.

Call Vargas & Vargas today and speak with a knowledgeable agent. 

Our phone number is: 877-550-0025.