4 Reasons You Should Have Life Insurance


If something were to happen to you, would your family struggle paying the next few mortgage payments? If you have debts, would they be left to your spouse or loved ones? If something were to happen to you, would your family struggle paying the next few mortgage payments? If you have debts, would they be left to your spouse or loved ones? Do you want to leave your children an inheritance when you’re gone? If you’ve answered “yes” to any of the questions above, you may want to consider a life insurance policy with Colonial. Below are four reasons why you should have life insurance.

 

1. Replace Income for Your Dependents

Today, 48 percent of all married couples live in a dual-income home according to the Bureau of Labor Statistics. In households with children, both parents are employed more than 60 percent of the time. It’s becoming more common that families depend on both incomes for their finances. If you have a spouse or other loved ones that depend on your income, your life insurance can help replace that income for your dependents if you were to pass away.

 

2. Helps Pay Final Expenses

According to SmartAsset.com, the average funeral costs $7,181 and can easily run upwards of tens of thousands of dollars. That can be a big hit financially, especially in an already troubling time. Life insurance can often cover funeral and burial costs, easing the financial burden of your loved ones.

 

3. Create an Inheritance

If you purchase a life insurance policy and name an heir as a beneficiary, this can be used as an inheritance for a loved one. With the cost of college tuition rising each year, fewer people are graduating college debt-free. An inheritance can help your heirs pay for college, buy a home or simply give them a nest egg for their future.

 

4. Colonial Offers a Variety of Life Insurance Benefits

Colonial Life Insurance Company of Texas offers whole life insurance, optional coverages including accidental death and more. Our insurance professionals can help you find the coverage that works for you. Request a quote today, or give us a call at 817.390.2350.

 

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