Life insurance doesn’t seem like a necessary investment, especially to most dads. After all, you are fit and healthy and the end is a long way away. This is just one reason fathers don’t opt to invest in life insurance. The truth is that, even though it doesn’t benefit the policyholder, it’s an essential plan for a family man. Below are the reasons why dads need to take it more seriously.
Anything Can Happen
At the moment, anything is possible. From losing weight without exercise to bubble football, it is all on the table. But, it’s important not to lose respect for the immediacy of death. Yes, this topic is a little morbid and dads don’t like to listen or ponder their mortality. However, the truth is that it can strike at any time without any respect for the circumstances. Whether you have high cholesterol or haven’t been to the doctor in years, anything is possible, and that can leave the family in a vulnerable position.
Funerals Aren’t Cheap
How do your circumstances leave your family vulnerable? Well, it boils down to money. As a dad, you are probably part of a delicate eco-system within the household. You and your partner will work for a living to earn money and provide for the kids. At the moment, the lifestyle might be a comfortable and pleasurable one, yet that can change. If there is only one wage, the people you leave behind might have to scrimp and save for a funeral. Seen as an average one costs up to £4,000 according to moneyadviceservice.org.uk, it is a good idea to have a backup plan.
Protect The Family
It isn’t only the immediate costs that the rest of the family has to consider. It’s the ones in the future which are harder to account for without their father. From paying the kid’s university fees to keeping up with the mortgage, life as a single parent family is difficult. Not to say that it’s your fault, but you can do more to ensure their protection even if you are not around. A comprehensive policy will not only pay out a lump sum, but it will contribute to certain payments over time, such as any debts.
There are benefits for the policyholder, too. A typical plan will include a feature known as “annuities.” Think of it as a pension scheme but without any help from the government or your employer. Why do you need this when you have a work and state pension? Termlifeinsurance.co says it’s because retirement is pretty final and reduces your money-making opportunities. With an annuity, it is possible to plan for your retirement responsibly. Just search for the quotes and pick the one which suits your needs.
Peace Of Mind
Nothing can replace a father. Still, life goes on and it won’t stop because you’re not around. At least when this happens you will have a peace of mind. With a quality policy, you know that everyone is safe and secure.
As far as having a life insurance policy goes, that is the most important reason to invest.