When a Primary Wage Earner Has No Life Insurance

+Getting life insurance in Toronto is now a simpler process as there are many companies that provide quotes online. While thinking of your own passing is morbid, it is still practical to plan for it. Imagine if you were on the fence about getting life insurance, you are the top earner in your household, and then suddenly you were gone.

With no life insurance, your spouse and your kids will likely have trouble shouldering the costs like mortgages payments, monthly bills and funeral costs. The struggle to come up with the funds will put yet another burden on your grieving loved ones. The stress of giving up the family home and moving is something that can be easily avoided with a simple life insurance plan.

Here are the main reasons to buy life insurance

• To financially secure your beneficiaries future
• To replace your income and ensure your survivors can meet their monthly obligations
• To continue your financial goals like providing education funds for the children
• To provide the cash to pay funeral costs and any tax on your estate

Leaving your family debt free allows them to make choices without financial problems being the main motivating factor in their decisions. Life insurance can help protect the financial security of your family. This is very important when you are the primary wage earner.