Why You Need It
Buying a home costs more than ever these days, and to buy that home, many Americans are taking on more debt.
This situation could be even more catastrophic if one of the wage-earners in a household suffers a major dismemberment or the unimaginable happens. With this scenario in mind, one might want to consider making sure they have sufficient life insurance coverage so that mortgage payments can continue to be made in the event of a tragedy.
You never know what might happen, so it’s best to prepare for it. You now have your new home that your family will cherish and create beautiful memories in. Don’t risk that home being taken away in case of the unimaginable. Help support your family even when you’re not here.
According to a recent report, the average household has nearly $54,000 in debt and around 70 percent of that debt is the mortgage. This can be an overwhelming amount of debt for couples or families just starting out with their first home.
Families buying their first home often do have one advantage when it comes to looking at life insurance: They are often young and healthy. This means that life insurance premiums are significantly lower and it’s a good time to lock in a long-term low rate. Also, personal health can often take an unexpected turn for the worse. Hesitating to lock in a low rate while you’re in good health is a decision that could come back to haunt you.
Some people might simply rely on the life insurance offered by their employer. However, both the modern economy and job market are constantly in a state of flux – putting true job security into question. Also, with funeral expenses – an employer life insurance policy may not offer enough coverage to continue making mortgage payments.
There are many options when it comes to life insurance including the type of life insurance. You can choose either no-exam life insurance or full-exam traditional life insurance. You can have life insurance that covers you in case of an illness or accident, or have it just cover you in case of an accident.
Consult with Health-Dental-Life-Insurance for Your Best Insurance Option
Most financial planners suggest carrying some type of life insurance policy and first-time home buyers are at an ideal stage in their life to both lock in low, long-term rates and prevent their loved ones from facing a situation where they can’t afford to pay for the house they’re living in. Health-Dental-Life-Insurance has advisers available to those who want to look into this type of coverage. You can also reach us directly at 1-800-257-1723.