Life insurance seems to be the most overlooked form of Virginia insurance coverage. Most people have a solid health insurance plan, auto insurance and even homeowners insurance. While all of these are great and have unique benefits to offer, life insurance holds the same value and should be treated that way. Here are the top two reasons you need life insurance coverage today.
1. It Helps Pay off All Final Costs
Life insurance is important because it helps cover and pay for all of the final costs that arise after you are gone. These costs include the following:
- Funeral fees
- Cremation costs
- Medical bills that health insurance may not fully cover
- Any obligations left unpaid or unsettled
Even balances left on one’s mortgage can be covered with Virginia insurance, giving family members and friends peace of mind when you leave this life.
2. Life Insurance Is an Inheritance
When you purchase your life insurance, remember to buy a policy that has a beneficiary who is a named heir. Doing this seals the insurance as an inheritance for your family or whomever you choose to leave it to. It can also pay off any state estate or federal taxes the heirs may owe when they receive the inheritance.
Life insurance is your way of securing and taking care of your loved ones after you leave the earth. All remaining costs will be covered, and your loved ones can inherit from Virginia insurance as well.