Autonomy, freedom, flexibility – there are certainly perks to being a self-employed individual. However, there are also some disadvantageous, mainly not having a benefit plan provided. You’re essentially on your own when it comes to obtaining life, health, disability, and other insurance benefits. As a self-employed individual, you’re placing your family at significant financial risk if you don’t own a life insurance policy. Such a policy would not only provide your surviving family with a monetary benefit if something was to unexpectedly happen to you, but also provide coverage for your debts related to sole proprietorship.
Why Is It Important For Everyone To Have Life Insurance?
Any credible financial expert will tell you that you need the protection of life insurance whether you’re employed by yourself or any other entity. The need is even greater if you have a family or loved ones reliant upon your income. Most people will be able to earn a living and support their family’s needs and lifestyle as long as need be. However, unexpected deaths happen everyday. Without life insurance, an unexpected death could leave your family in an insurmountable financial crisis.
Imagine for a moment the financial repercussions your family might face should you die without life insurance and they lost the financial support of your income. Would they be able to pay for your burial, funeral, and medical bills; maintain their current lifestyle; meet financial obligations like mortgages, car loans, utilities, credit cards; be able to send children to college?
If questions like the above give you any reason to question your family’s financial security, then you need to have an effective life insurance plan in place to ensure that your family’s financial needs and obligations will be provided for should you pass away.
Protect the loved ones in your life by learning more about life insurance. Request a quote from a professional independent insurance agent like Journey Insurance Agency, and let us sift through the hundreds of life insurance programs to find you the most competitive rates available. Let us do the paperwork and you can focus your precious time on something you enjoy.
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