#nzgirlhacks: Why You Need Life Insurance

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Saving money for your family means going over the expenses, your income, and every financial detail of your life with a fine-tooth comb. It’s not easy, and it’s probably going to cause you a little anxiety as you delve into places your money is going, how much you waste, and how much you need to save for the future. When you go over your expenses and decide it’s time to save money, don’t be like the thousands of people who assume they’re fine dropping their life insurance policies. It’s unwise, and financial experts advise against forgoing life insurance.

 

You Need Life Insurance

You do need life insurance if you have a family. If something happens to you and your income is lost, can your family survive? If you are the primary breadwinner in the family, you must carry life insurance. Even if you don’t bring in any money for your family, you do provide a role. Do you have kids? If you stay home with them so your family doesn’t pay for school, daycare, after-school care, or babysitters while you work, you’re saving your family a lot of money every month.

If something happened to you, who would care for your kids while your spouse is at work? Can your spouse afford to send your kids to school or daycare or camp while he or she works? You might not provide financial income to the family, but you do provide very important financial help to the family despite not receiving a paycheck every other week or so.

Financial experts also remind consumers it’s not easy to get a good life insurance policy the older you good. If you decide to drop the policy you’ve carried for years, you’re never getting it back. The next one you get might be far more expensive, far less beneficial, and nothing like the one you have now. It’s easier to get good insurance for a good rate when you’re young and healthy. Are you still young and healthy? Think about that when you decide you’re saving money by ditching your life insurance policy.

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How to Save Money on Life Insurance

If you really need to cut the bills in half or more, you need to consider a bundled policy. Get online or start making calls for car insurance quotes that also bundle your home and life insurance policies. Bundle discounts are available for those who choose to carry all their policies in the same place, and that’s a big saving each year.

Additionally, if you make the decision to pay your premium upfront rather than monthly, you save a monthly fee as well as an automatic payment fee, and you get a discount for being a good customer. Talk to your insurance agent about the many ways you can save money on your insurance. Many of them are surprising, but that doesn’t mean they’re unwelcome.

Savings are nice, and sometimes all you have to do is ask about it. You can compare insurance quotes until you find the policy that best fits your needs and your financial situation, and that’s how you save. You might find your current company is desperate to keep you, and they’ll offer more substantial discounts if they feel you might leave.

Life insurance is the way your family survives when you are gone. It’s the kind of subject you never want to discuss, but it’s the kind of subject you must discuss. You can’t avoid this topic of conversation, and you certainly don’t want your family strapped financially and potentially change their entire lifestyle as they are dealing with losing you.
Protect yourself and your family with a good life insurance policy. You need it, and your family needs it. It seems like a waste since you’re not really using it, but it’s one of the best investments you’ll ever make. Don’t cancel it no matter how badly you need to save money.

 

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Damien is very passionate about health, cooking, diet plans and anything that has to do with staying fit. He specializes mostly in real estate and home improvement as a writer. He grew up in Oregon but now is a resident of Salt Lake City, where he has fallen in love with the snow and the people.