Peace of Mind: 4 Reasons You Should Invest in Insurance
Wednesday, April 16, 2014, 1:00 PM | Leave Comment
If you have been toying around with the idea of buying insurance, you should know that there are some very important reasons you may need insurance in the future.
Here are four reasons you should invest in insurance.
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Disability Insurance
There is a good chance that you could become disabled either partially or totally during your lifetime. If you should suffer a disability, you will not be able to work, which means you will not have an income.
To protect your family, your credit, and your assets, you can purchase a disability income policy, which will pay you benefits each month. You can use the cash for your medical expenses, your regular monthly bills, or anything you need. This can keep your savings intact and save you from financial ruin.
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Provide for the Future
You should invest in life insurance, so you can rest assured that your family will be taken care of in the event of your untimely death.
You can designate a beneficiary to receive the death benefit in your policy. This money can be used by your spouse to pay off any debts you owe and pay for your funeral and burial expenses.
This money will also help your family live the same lifestyle they are accustomed to without your income.
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Build Cash Value
Did you know that some life insurance policies also build cash value. This can give you peace of mind because you are saving money while providing a protection for your family.
If you need to take a loan out, you may be able to use the cash that has accumulated in the policy. Some policies even permit partial withdrawals of funds. This is great safety net for your family in case you ever need access to cash.
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Long Term Care Insurance
Another type of insurance that can give you peace of mind is long term care insurance. At some point in the future, you may have to enter a nursing home, which is very expensive.
If you have any savings or assets, you will have to use these to pay for the expenses you incur in a nursing home. This means that you will not have anything to leave to your children or grandchildren.
A long term care insurance policy will pay for long term care, so you can retain your assets.
Insurance can provide you with peace of mind and help you provide for your family. Drayden Insurance LTD is one of the many companies that has been protecting individuals and families for years, and will be able to answer any questions you may have about any of these kinds of insurance.
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