9 Reasons Why You Need Life Insurance

It is common to hear unfortunate stories every day about people dying from heart attacks, car accidents or in other unexpected but sudden ways. This usually makes people think about what would happen if they were the ones in such situations.

For people who have family members they would leave behind, the biggest concern is usually what would happen to them. Unless a person has life insurance, survivors could be left in a difficult position. There are nine very good reasons for purchasing life insurance, which include the following. Debts Nearly every person has at least one or two debts. For those who have considerable amounts of debt, it is important to think about who will pay these debts after death.

With the loss of one income, your loved ones would already face difficulties, but debts only worsen those problems. Many surviving family members lose their homes or vehicles after the death of a main earner without life insurance.

Life necessities When most people think about life insurance, they forget topics such as college. Losing the only income or even a supporting income can affect how much is saved toward college funds. Life insurance can provide enough to fill those gaps.

Child care Child care expenses are an issue for both working and non-working spouses. If a non-working spouse dies, the working spouse will either have to take time away from work or hire someone to take care of the children.

If a working spouse dies, their income will need to be replaced to provide for the children. Medications, medical care, clothing and everyday supervision are all important expenses to consider.

Legal issues There are several legal issues to consider after death. A person's estate may be subject to probate proceedings, which will leave assets tied up or at risk. Life insurance will provide tax-free money to survivors to handle expenses and live on during this difficult period.

Family care As parents or other family members age, it is important to think about who will care for them. Retirement benefits are disappearing, and nursing home care is not always the best option.

People who are planning for life insurance should also plan to provide for their aging parents if applicable.

The unexpected Life insurance is important for both spouses in a family. One may buy life insurance and think the other will take care of surviving children.

However, if the other spouse also dies shortly afterward, this could leave children and next of kin with major problems.

Emotional stress Surviving family members will likely have sleepless nights, stress and may even experience depression.

Many people have a difficult enough time overcoming their depression that they require counseling or medication, and these needs cost both time and money.

Lifestyle Many families have traditions and hobbies, but these lifestyle activities may be sacrificed if a main wage earner dies without life insurance.

For example, vacations, holiday trips, memberships to sporting clubs and funds for other hobbies will be eliminated or severely limited.

Remembrance Everyone wants to be remembered after death. For every person, this is something that will be different. Whether a person wants to leave a sizable donation to a charity or just provide sufficiently for his or her family, life insurance is the best way to do that.

A final word Any person who is eligible for life insurance should buy it. It is better to buy it at a younger age or while a person is still in good health.

Premiums are small in comparison with the high costs survivors will pay for an untimely death of a main income earner. Since nobody is guaranteed tomorrow, the best time to start shopping is now.

To learn more, give us a call.?

BGES Group?is one of New York, New Jersey, and Connecticut's Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders' risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers' compensation, N.Y.S. disability, and group health.? Our commitment to you goes?beyond?the policies we?provide. We are always just a call, text, or email away, ready to assist you, even?on?weekends. We understand the importance of your business and are here to help?you navigate any insurance challenges.

BGES Group?are?Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or?whatever your issue. We can help!? We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, logistics companies, Manufacturers, Recyclers, and?Truckers; we can help ANY tri-state business owner.? We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too.?

If you would like to speak with us, call Gary Wallach at 914-806-5853, click?here?to email, or click?here?to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY?10538

email:?[email protected]

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