Many people are aware of the argument that life insurance should be purchased for the benefit of their children or spouse. There are, however, some surprising reasons for the importance of life insurance that are often overlooked.
The ones who will rely most on your life insurance policy are those who will either end up having to pay for your expenses or who depend on you for financial support. If you have cosigners on any loans, the policy will ensure that your debts don’t end up in their laps. Another thing life insurance can do is provide for the continued care of sick or disabled people in your life or cover assisted living expenses for your elderly parents.
Businesspeople who are in joint ventures may want to get life insurance to help smooth the transition after your passing. The policy can make it easier for your partners to buy out your share.
These are just some of the surprising reasons to buy life insurance. To get the policy that will suit your budget and needs, please contact Sackett & Associates Insurance Services located in Sonoma County.