Money and insurance

Life insurance in the time of pandemic: Why it’s important

Having financial protection at this time of uncertainty is one of the best ways you can prepare and plan for the future. Here are the other reasons why it’s important to get life insurance now!

By Kaydee Dela Buena

COVID-19 has people grappling with the “new normal.” In just weeks, our lives and finances have been completely turned upside down by this pandemic. We’ve turned our homes into makeshift offices, learned to wash our hands obsessively, and hoarded all sorts of hygiene goods. With each headline, the situation becomes more and more complicated, confirming that the life we knew will never return.

If these unprecedented times have you worrying about the future, you’re not alone. It’s time to plan your future more carefully—not just for you, but also for your loved ones. At this time of uncertainty, life insurance is an invaluable ally. Here are why you need life insurance in this pandemic and why it’s important to purchase one now.

It protects those you love.

Having life insurance could work towards your family’s financial security. If you’re married, life insurance can provide additional cash you can use to fulfill financial goals, such as buying a house or traveling abroad.

If you’re a parent, a VUL life insurance can help save for his or her college fund. Similarly, having life insurance allows you to continue working on your goals, worry-free, because you’ve financially prepared. Plus, having a VUL plan allows you to potentially grow your money to maintain your family’s quality of life without compromising your own.

It can take care of your debts.

Let go of the worries of the future and live a life that’s focused on the “now.” For you and your family’s peace of mind, life insurance can be used to pay off any outstanding debts, in case anything happens to you. Without the added burden of debt payments, your family can move on and slowly recover financially.

It protects your finances.

While the long-term ramifications of COVID-19 are yet to be known, we can’t overlook its financial and economic impact. Your income has now become your greatest asset. Imagine if all of a sudden you have to deal with the loss of your job or worse, a medical emergency.

Life insurance protects your savings as you work on financing these unexpected expenses. Moreover, it ensures that your finances won’t get depleted from a single emergency.

And in the event of your passing, life insurance can provide your family financial support so they, too, can recover swiftly their finances.

It supports long-term goals.

Life insurance like VULs can help you achieve long-term goals like securing your child’s future and retirement plans. Since it has both protection and investment, you’re able to protect your family financially and, at the same time, potentially grow your money.

It gives you peace of mind.

Having life insurance will put your mind at ease knowing that you’re covered in case accidents and medical emergencies happen. No need to worry over using your savings or leaving your family burdened with medical debts.

Let life insurance take care of the worries for you. Your only job now is to focus on other things that matter, like building relationships and working hard to set your plans in motion.

At these times of uncertainties, it helps to have something we can depend on with certainty. Schedule a free session and find out how you can have peace of mind at this time of pandemic.