Do you value your life or the existence of your family that depends on you financially? Then you shouldn’t leave any chance to enroll in a life insurance policy. Luckily, the federal employees are offered by life and health insurances considering various factors. They enroll considering the 2019 federal life insurance rates so that they can know which policy plan will be best for them as well as their family for better sustenance. Being a non-federal employee- you also have the provision to secure your life by buying a life insurance policy from a private company selling diverse plans for quite some time now.
Here, some of the reasons for buying the life insurance are discussed in details—
Increase the value of your life
By purchasing a life insurance plan covering a handsome amount, you will surely increase the value of your life. Withstanding the fact that life is priceless it is also true indeed that without money there is no honey. Therefore, if you die early, the company will pay everything from your burial expenses to paying off your debts.
If you die, your family is protected
If you die in an accident, prematurely, your family that depends financially on you apart from emotion, they can be on the streets because of lack of sufficient funds. If you have debts, they might be humiliated and harassed for not paying off the debts. If you want to avoid such situations, then go and insure your life. Also, you must add your family members as nominees to claim the policy after your death.
You must know that life insurance investment is a tax-saving venture. You can save your hard earned money instead of paying the IRS by showing the policy reference. Health insurance is also tax deductable in many countries. You should talk to your financial advisor of the tax consultant that can help you throughout the process of filing the tax.
Secured future of your children
By purchasing the life insurance, you will secure the lives of your children. You must have big dreams of them getting into college and pursuing higher studies but if you die an unfortunate premature death- you can surely don’t leave any chance to fulfill the dream if the other parent is incapable of providing such funds. But by having a life insurance, you can secure the future of your children.