{"id":133,"date":"2016-11-16T12:19:11","date_gmt":"2016-11-16T12:19:11","guid":{"rendered":"http:\/\/www.ladderlife.com/blog\/?p=133"},"modified":"2021-05-19T19:45:46","modified_gmt":"2021-05-19T19:45:46","slug":"who-needs-life-insurance","status":"publish","type":"post","link":"https:\/\/ladderlife.com/blog\/2016\/11\/16\/who-needs-life-insurance\/","title":{"rendered":"Who Needs Life Insurance?"},"content":{"rendered":"

Do you need life insurance?  To answer this question, think about the people who depend on you for their financial well-being – namely, your family.  Life insurance is all about making sure your people will be covered in the event that something were to happen to you.<\/span><\/p>\n

If you don\u2019t have people depending on you, or if you have accumulated sufficient savings, you might not need life insurance.<\/span><\/p>\n

Here are some instances when life insurance makes sense:<\/strong><\/p>\n

When you get married.
\n<\/b>Saying \u201cI do\u201d can mean combined debts and living expenses beyond what you had before you tied the knot. If something were to happen to you, life insurance can pay off loans and credit card balances, and cover expenses that one spouse\u2019s income may not.<\/span><\/b>
\n<\/span><\/b><\/p>\n

When you have children.
\n<\/b>Whether you\u2019re married with kids or a single parent, your kids of course count on you for everything. Life insurance can help take care of the future you envisioned for them, from everyday expenses to a college education.<\/p>\n

When you are the breadwinner.<\/strong><\/p>\n

Life insurance can replace your income so those who depend on that income can continue to live their current lifestyle. It can also pay off a mortgage, so staying in a much-loved home is possible.<\/span>
\n<\/span><\/p>\n

When you are a stay-at-home parent.<\/strong>
\n<\/span>Life insurance could cover the cost of services you provide, such as child care, driving, cooking, and housekeeping. It can also provide some much-needed flexibility for a partner to take time off from work or make other career adjustments.<\/p>\n

When you are divorced.<\/strong><\/p>\n

Life insurance can help meet alimony and child support requirements.<\/span><\/b><\/p>\n

When you buy a home.<\/strong><\/p>\n

Your family can stay in the home they know and love, because life insurance could cover mortgage payments, property taxes, and home repairs.<\/span><\/b><\/p>\n

When you have aging parents or a relative with special needs.<\/strong><\/p>\n

You can rest assured that life insurance could maintain the care they deserve.<\/span><\/p>\n

When You May Not Need Life Insurance<\/strong>
\n<\/b>While life insurance is essential for many of us, there may be situations where it is not required.<\/span><\/p>\n

Here are some scenarios where this might be true:<\/p>\n