No one saw the pandemic coming. Indeed, no one can predict the future. You’ll never know when you’ll find yourself in a situation where you will need an insurance plan — be it illness, hospitalization, retirement, death, or even an auto accident, a property incident, or an economic crisis affecting your business. And because you don’t know for sure when you’ll need it, why not plan early?
According to the American Council of Life Insurers, life insurers pay out $18.6 million in life insurance and annuities to Kentucky families and businesses every day. From life insurance to retirement savings and personal pensions, long-term care and disability income insurance to supplemental benefits and paid family and medical leave. You can think of it as fool-proof protection for you and your loved ones not only when your business is doing great or within your lifetime, but even beyond.
Loss of income
Your income is one of your greatest assets. Imagine if all of a sudden you had to deal with a medical emergency, a situation similar to COVID-19, which affected our jobs and businesses, or worse, the untimely passing of your family’s breadwinner. Where would you get the funds to finance unexpected expenses? Life insurance protects your income in such a way that it acts as a replacement so you can pay off debts and other costs. And if anything happens to you, life insurance secures your family’s future and frees them from financial worries.
It takes care of expenses like a mortgage or college education, which you would no longer be able to support. You’ve probably heard of it as forced savings plan too, which enables you to set money aside and safely put it away in life insurance. With it secured, you can be confident that the funds will be there and ready for your use when you decide to bring your plans to fruition.
More upsides to built-in cash
This is even better when it comes with a built-in cash value, which is invested in stocks, bonds, and mutual funds with a potential to earn higher returns. This cash value can be withdrawn should the need arise or enable you to reach your financial goals in a shorter period. Nothing beats the peace of mind that having life insurance brings.
You don’t have to worry about how to finance your needs if you have an accident or suffer from a disability, nor do you have to be anxious about your family’s future when you are gone. With life insurance to take care of these concerns, you can focus more on the things that matter now, like working hard and building your relationships.
Besides all the benefits insurance offers, know that the life insurance industry provides good jobs and long-term investment capital that spurs economic growth. In Kentucky, the life insurance industry generates 24,500 jobs and invests $60 billion in Kentucky’s economy. The life insurance industry helps Kentucky families secure the things that matter most through all stages of life. Don’t know how to get one? No problem! Getting a life insurance plan is made easy by London Insurance. We can help you choose the life insurance plan most suited for you—and how you can make the most out of the unmatched protection that life insurance offers. Contact us today!