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The Life Insurance Blog

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Mortality: Gain More Control Over Yours Using Life Insurance

Nov 3, 2014 7:00:00 PM

mortality_listYou may have done a double take when you read today’s blog title. Control your mortality with life insurance? Are they serious?

Before you ask, we’re not saying that life insurance will turn you into a superhuman or will increase your life span by 50 years. Sorry! But we want to show you how you can use life insurance to ensure that your family remains healthy and happy long after you’ve passed on.

And that’s something that you can feel good about, right?

There are a lot of precautions that you can take to help you live a longer life. Daily exercise, a healthy diet, learning not to sweat the small stuff and reducing your stress. While these lifestyle choices are wonderful ways to improve the overall quality of your life, they are not guaranteed life extenders. If you’re one of the (or the only) breadwinner for your family, you’ll need a financial backup plan that’s solid.

1) Choose exactly how your family will be cared for: When you’re employed, you know you’ll get paid every month like clockwork. But what happens if you pass on unexpectedly? If you’re gone, you obviously won’t need the money, but what about your spouse and your children? A term life insurance policy allows you to determine the exact salary that will keep your family financially comfortable and worry-free after you’re gone.

2) Give your child a chance to compete with a college education: One of the most amazing gifts a parent can give their child is the gift of a debt-free education. The workforce becomes more competitive with each passing year, and bachelors’ degrees are the new high school diploma. When you purchase a policy that will cover your child’s education, you’re making sure that they’ll enter adulthood with an advantage.

3) Supplement your spouse’s income: Let’s say that you and your spouse both support your family financially. You may think that your spouse can hold down the fort in the event of your untimely demise. But remember that your spouse must cover twice the expenses on only half the salary. That’s assuming, of course that he or she keeps his or her job. What happens if your spouse is laid-off or can no longer work due to health reasons or a disability? The right policy will keep your family out of crippling debt should this worst case scenario become a reality.

4) Live on through your legacy: One way that you can live on in spirit is through your legacy. Not only can your assets keep your family financially afloat, but it can serve as a source of inspiration. For example, say your child wishes to start his or her own business after college. Leaving money for your heirs can help fund their dreams.

Will life insurance help you live longer? No, but it will allow you to dictate your family’s financial future long after you’re gone.

Life insurance can give you control in a largely uncontrollable world. Get some of yours back by visiting IntelliQuote.com and receive a free quote today! 

 

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