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4 Reasons to purchase a life insurance policy today

Do you believe that you don't need life insurance if you don't have kids? Think again. It may seem like an unnecessary expense. But there are many reasons to have life insurance, even if you’re not supporting a family, and Mosaic Insurance in Prescott would like to bring you these four reasons to purchase a life insurance policy.

Reason # 1: Mortgage protection

Whether you live by yourself, with a spouse or significant other, you may want to buy life insurance as mortgage protection. Think about it − you don't want the person you live with to be homeless if you die unexpectedly. Term life insurance can be used to pay off an outstanding mortgage balance. Just select a term that matches the length of your mortgage payment period.

Reason # 2: Income replacement

You and your significant other may have planned for a future based on two incomes − but what if one of you passes away unexpectedly? Life insurance can be used to replace the lost income so the survivor can maintain the same standard of living or at least they can adjust slowly to having one income.

Reason # 3: Final expenses

Funeral expenses, burial costs and medical bills can add up to a hefty amount. The last thing you want is for your loved ones to bear this extra burden. Life insurance can be used to plan for these final expenses.

Reason # 4: College funding
This one does apply if you have a child. Life insurance can help fund a college education. If you die, the death benefit may be invested and potentially grow to the needed amount by the time your child(ren) reach college age. Feel better knowing that you helped prepare for their future.

The earlier the better

Maybe you're starting to see the need for life insurance Typically, the younger you are when you get insurance, the lower the cost and the easier to get approved.
At Mosaic insurance we are happy to help you find the right life insurance policy for your needs.
Call us today! 928-458-7374

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