Insurance- why Needed

Insurance- why Needed

          People need insurance for a variety of reasons. In some cases insurance is required by law; however, there are policies that, though not mandatory to have, do give you necessary protections should you suffer a financial loss. And when you do have an insurance policy, there are certain rights and protections you have under Pennsylvania law. Different stages of your life will require different insurance needs, so it is important to review your policies at least once a year to make sure you have the best policy to fit your lifestyle.

Why do I need life insurance

If this question bothers you, then Life Insurance is the answer.
Key Benefits of Life Insurance

Who will take care of my family if tomorrow something unfortunate happens to me? 

Of course, under any circumstances, the loss of a loved one is a traumatic experience. But, if your family is also left without sufficient money to meet basic living needs or prepare for future goals, they will have to cope with a financial crisis at the same time. A Life Insurance plan ensures that your family is financially secure even if tomorrow you are no longer around to care for them.

Life insurance, especially tailored to meet your financial needs

Need for Life Insurance

Today, there is no shortage of investment options for a person to choose from. Modern day investments include gold, property, fixed income instruments, mutual funds and of course, life insurance. Given the plethora of choices, it becomes imperative to make the right choice when investing your hard-earned money. Life insurance is a unique investment that helps you to meet your dual needs - saving for life's important goals, and protecting your assets. Let us look at these unique benefits of life insurance in detail.

Asset Protection

From an investor's point of view, an investment can play two roles - asset appreciation or asset protection. While most financial instruments have the underlying benefit of asset appreciation, life insurance is unique in that it gives the customer the reassurance of asset protection, along with a strong element of asset appreciation.

Insurance Is Needed to:

• Own a home because mortgage lenders need to know your home is protected
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• Drive vehicles because few people could afford the repairs, health care costs and legal expenses associated with collisions and injuries without coverage
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• Maintain your current standard of living if you become handicapped or have a critical disease 
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• Cover health care costs like prescription drugs, dental care, vision care and other health related items
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• Provide for your family: in the event of a death
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• Run a small business or family farm by managing the risks of ownership
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• Take vacations without worrying about flight cancellations or other potential issues