Do I need life insurance?
Many otherwise diligent and responsible people, who would never let their car or home insurance policies lapse, neglect to protect their most important asset—their family. You might never get into a car accident, and you might live in your house disaster-free. But if you have a spouse or children, you will definitely use your life insurance policy.
"Life insurance is just like home insurance—it's there to protect you in case of a catastrophic event," said Insurance INSIDER Mike McBride. "Because you can't afford to pay to rebuild your house out-of-pocket."
Many people calculate that life insurance policies offered through work will be sufficient. This might not be the case. Work policies only cover you so long as you're there. When you retire, you may find that switching from paying into a group plan into an individual plan is much more expensive than you thought—particularly since rates increase as you get older and as the likelihood of age-related medical conditions increases.
"Buying your own policy is like putting a foundation on a house," said Mike. "If the house burns down, the foundation is always there."
When your family is coping with the loss of a parent or a spouse, the last thing they will want to do is figure out how to pay for end-of-life care or a mortgage—and sadly, most people will only realize that they need life insurance when it's too late, or too expensive, to purchase it. Plan ahead and call 503-538-8898 for a consultation today.
Mike McBride Agency
1548 E FIRST ST., NEWBERG, OR 97132