4 reasons life insurance is worth it

Life insurance can be valuable for a variety of reasons.

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Taking out a life insurance policy can be a great gift to your family, such as if you want to leave them with money after you’re gone. Some life insurance types can also provide benefits like building a cash value that you can use during your lifetime.

Depending on your financial goals and risk tolerance, there can be many reasons to buy life insurance. Deciding whether life insurance is worth it can vary from person to person. Accordingly, it helps to understand some of the top reasons supporting purchasing a policy.

If you’re in the market for life insurance then start by getting a free online price quote now so you know exactly what to expect.

4 reasons life insurance is worth it

1. It can provide financial security for loved ones in the event of an early death

While we all pass away eventually, life insurance might be worth it if you’re trying to financially protect against early death. If you pass away relatively young, you might not be at the point where your spouse, children or other loved ones are financially secure.

For example, you and your spouse might be saving for retirement so that you both can stop working by age 65. But if you pass away when you’re, say, 60 years old, then that could put your spouse in a position where they need to work until 70 to afford retirement, such as if they still have a mortgage to pay off.

With life insurance, however, you could leave your spouse and/or kids with a nest egg or monthly payments if you pass away early.

Term life insurance can be particularly helpful for these types of scenarios. You might want protection for 10,

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Surprising things life insurance can cover

Life insurance can protect your loved ones in more ways than one.

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If you’re in the market for life insurance or already have a policy, you’re probably familiar with the idea that life insurance coverage can help provide financial protection for you and your loved ones. But perhaps life insurance covers more than you assume.

It’s not always just about leaving your family with a large lump sum and hoping for the best. While many policies provide flexibility in terms of how your beneficiaries can use the money they get from your life insurance policy, having some specific use cases in mind can help you envision whether life insurance would be worth it for you and your family.

If you’re in the market for life insurance then start by getting a free online price estimate now so you know exactly what to expect.

Surprising things life insurance cover

In many cases, life insurance covers costs like:


If you’re worried about managing debt, like your mortgage or car loans, then life insurance could potentially help.

You might think your family would have to move if you were to pass away, for example, due to not being able to afford the mortgage on your home. But if they receive money from a life insurance policy, then your spouse, for instance, could pay off the remaining mortgage and continue living in the same home.

Think about what your current debt obligations look like, as well as whether your spouse and/or others you care about would be responsible for your debt (generally if they cosigned loans). Then, consider if life insurance coverage could help ease that responsibility. If you have an existing policy, you also might decide to increase coverage if you take on more liabilities.

You can easily get

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How to Buy Life Insurance With a Pre-Existing Condition

SmartAsset: Buying Life Insurance With a Pre-Existing Condition

SmartAsset: Buying Life Insurance With a Pre-Existing Condition

You want to make sure your family is safe and secure. That’s why you’re researching life insurance. But how do you buy life insurance with pre-existing conditions? What are the best types of life insurance to buy if you have pre-existing conditions? How does your health factor into the cost? And are there any extra steps you need to take when applying? This article will help you answer these questions.

A financial advisor can help you compare different life insurance options.

What Is a Pre-Existing Condition?

A pre-existing condition is any medical condition you had before you signed up for insurance coverage. While it’s illegal for medical insurance companies to deny coverage based on a pre-existing conditionsit’s not for life insurance companies.

Buying life insurance with a pre-existing condition can be complex. It helps to know what conditions may affect your life insurance application. Here are five additional examples of major factors that could get you denied:

  • HIV

  • Cancer

  • Heart Disease

  • Diabetes

  • Smoking

Cost of Life Insurance and Pre-Existing Conditions

Many life insurance providers will sell you life insurance even if you have pre-existing conditions. With pre-existing conditions, you can expect higher life insurance premiums. Whether you’re applying for term life or permanent life insurance, insurance providers will factor your health into the cost. That’s especially true if you have a large death benefit.

Life insurance providers use risk calculations to determine how soon your death may be, and thus, how high of a premium to charge you. Because pre-existing conditions increase your risk of death, you can expect to face higher premiums. How much extra you will pay depends on the condition and its severity.

So how much will life insurance with pre-existing conditions cost you? You can expect to

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