from ezinsurance.com.au:

You’re young. You’re healthy. You do not have any children and you are single. Why should you have a life insurance policy? If you are among the many people that do not own a life insurance policy, it is time to wake up and protect your loved ones from the costs of an untimely death.

When you buy a life insurance policy, you name a beneficiary. This can be anyone, but most likely this would be a person who would be responsible for funeral arrangements should you die unexpectedly. To put it bluntly, funerals are expensive and you would not want your loved ones to have to deal with the costs while also having to wrap their minds around the fact that they have lost you. Owning life insurance is a way to prepare for your untimely death without having to prepay for services.

If you have incurred debt in your lifetime, a life insurance policy goes directly to the beneficiary and not through your estate. Creditors are not able to attach the policy, leaving money left for your final expenses even if you have outstanding debt.

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Tags: Insurance, Life Insurance

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