Top 4 Reasons You Need Life Insurance

Sunday, September 13, 2015

Every day, we talk to individuals who need life insurance. Often, these individuals don’t know which type of life insurance they need or how the process works.

However, they always know one thing: they know the reason they need life insurance. When an individual comes to us, they often need guidance. We always start the conversation with a simple question. "If you die tomorrow, what do you need this money to do?" This may sound like a harsh question, but mostly it helps us have a better understanding of the reason someone needs coverage.

Here are the top answers we hear.

Leave my family mortgage free.

A mortgage is usually a family's largest liability. Owning a home free and clear will make sure your family is not uprooted from their home. Paying off your mortgage will also eliminate your family's largest monthly bill.

Fund my child's future education.

College is not cheap, and it’s getting more expensive every year. Life insurance can make sure your children have a chance to get the best education possible.

Replace my income.

Can your family pay their bills without your income? If they can't, we recommend buying at least 10 times your annual salary in life insurance death benefit.

Pay for my final expenses.

Funerals can be expensive, and most people don't want to stick their family with burial costs. The death of a loved one is hard enough without having to worry about your burial costs, which can be well over $10,000.

When trying to figure out the reason you need life insurance, always ask one question. What do you need the money to do if you die? Everyone needs the money to do different things. Once you ask yourself that question, you will know the reason you need life insurance.

If you would like to learn more about how to buy life insurance, you can check out our life insurance beginner’s guide here. It will help get you moving in the right direction.

Brad Cummins is the Founder of Local Life Agents and An independent life insurance expert, Brad is a trusted source for media covering a variety of topics and trends concerning life insurance. A resident of Columbus, Ohio, you may email Brad at

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