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5 reasons why life insurance is a good Christmas present



Christmas is fast approaching, and finding the right gifts for our loved ones is our main concern. You might not think of life insurance as an ideal gift, but you might be surprised that it can be, especially for the younger members of your family. Read five reasons why buying life insurance can prove to be a gift that keeps on giving:

A financial cushion for the future

When a family member is young and healthy, life insurance can be purchased at a very low price. It is best to consider whole life insurance, as this is an asset that grows over time. Once it reaches a certain value, it can be borrowed against college fees, a down payment on a home or other financial needs – your gift can turn into a very valuable asset over time.

Value for money

Term life insurance is very affordable and, with many policies, can later be converted into whole life insurance. A whole life policy provides protection for a young family, especially when the family does not have the financial resources to fall back on in the event of an unexpected death. These policies pay the death benefit tax-free, allowing the family left behind to keep the home, pay bills and afford everything they need. Ask your insurance agent about adding a disabled driver to your policy, which will provide financial resources if the individual is unable to work due to illness or injury.

Builds equity

Whole life insurance becomes an asset over time. These policies are far superior to term life policies, but the premiums cost more. If you can swing it financially, invest in a life policy for your youngest family members. Find a policy that will never expire, pay out a death benefit no matter how long you live, and build up substantial cash value over time.

Peace of mind

Young families are often on a tight budget and can live paycheck to paycheck, saving little, if any, of their income. When you buy life insurance for your relative, you’re providing them with more than just a piece of paper—you’re giving them peace of mind that their life won’t be a disaster should an unexpected illness or injury occur.

A unique gift

Although your gift of life insurance may be unusual, it will be deeply appreciated. Your gift shows that you care about the individual and want to make their life as easy and positive as possible. You also don’t have to brave the crowds at the mall and buy an item that may or may not be appreciated!

If you’re thinking about buying life insurance as a Christmas gift, make sure you work with a local insurance agent. While many online resources claim to make buying insurance easy, you want to get the most out of your investment. An insurance agent can identify the best deal for you and your budget and help you find the best coverage at the lowest prices.


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