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Are Life Insurance Policies Worth It? | Mike Butean

Updated: Apr 30


In this article, I will talk about if the life insurance policies are worth it


How many types of life insurance are there?

  • Term Insurance Mortgage Insurance

  • No Medical Insurance

  • Universal Life

  • Permanent Insurance


Are life insurance policies worth it?

  • Having life insurance is almost always a necessity if you’re a parent unless you have significant savings in the bank or your retirement accounts (and even then, it’s still a good idea). Kids are expensive, and raising them on one person’s salary can be almost impossible. There are too many sad stories out there about families who had a great life until one parent died, forcing them to downsize just to scrape by.

  • It is also recommended to buy life insurance if you share a mortgage with someone. It can be extremely difficult to sell a house quickly if you need the money, and a life insurance policy can help your loved one make mortgage payments if they decide to stay in the home.

  • Many customers make the mistake of assuming that they don’t need life insurance because they’re young. While the likelihood of an event is lower when you’re younger, that doesn’t mean something can’t happen. In fact, the top reason experts recommend buying life insurance when you’re young is that it’s typically priced lower for younger consumers.

This is something you should have and not need.

What is your most important asset?

Your house, your car, or yourself. How about your health & capacity to work?

Who relies on your wellbeing?

Do you have a family who relies on you or do you have a mortgage with a partner?


If you are interested to find out more contact me directly at

647-569-3799

mike@macdevfinancial.com

https://www.mikebutean.com/