Why Do I Need Life Insurance?

Being in the insurance industry, our household has a warped sense of humor.  We laugh that due to all of the Life Insurance Policies that we have purchased over the years that we are worth more “dead than alive”.  After Matt has purchased yet another Life Insurance Policy on me, I sometimes tease that “nothing better happen to me or else everyone will know that you did it for the insurance money!”

But, truly, these are just meaningless jokes.  I am so thankful that he is looking out in the best interests of our family. Especially our three young children.

I have learned over this past year that life is extremely precious.  It can be taken away so quickly…taken away in a blink of an eye.  And that does worry me.  I know that my children, of course, would be devastated if something happened toeither Matt or me.  But, I also know that their financial well-being would be taken care of due to the life insurance policies that we have in place in case something ever happened to us.  And, that does give me tremendous relief.

Matt is often asked by customers, friends, co-workers - “Why do I need life insurance?  I am only ‘X’ years old and in perfect health”.   Here is some great advice that I once heard Matt give:

If you are young and in good health, you probably have never thought much about life insurance. But have you ever considered what financial obligations might still exist if you died?  In addition to funeral costs and current bills, what about family living expenses, mortgage payments, long-term debt and college costs? The primary purpose of life insurance is to provide resources for all of these expenses.  And, I have found that most people do not have enough life insurance to protect their family from the death of a spouse/breadwinner.  Therefore, I recommendhaving life insurance of at approximately 7 to 10 times your salary.

As always, please don’t hesitate to contact us with any questions or comments!

Langlois Insurance Agency

www.langloisinsurance.com