Let’s talk about life… insurance.

Many of us need time to mature and realize the importance of one of humanity’s most important financial inventions. The irony is that the longer it takes you to come to the conclusion that you need life insurance, the more costly it becomes. It is easy to buy a policy when you are relatively healthy and young.

Worse yet, the chances that something unexpected and tragic might occur to you also go up. In an effort to educate the masses and try to spread our service before it’s too late, Lifefy has compiled a list of some basic (and obvious) reasons you need life insurance. You don’t need it tomorrow and you don’t need it next week.

You need life insurance and you need it today. With Lifefy, it only takes a few minutes, but here are some of the top reasons that might get you to finally take the leap and secure your future, today.

1. Pay off your debts…

We’ve all been there; you have a degree and a brand-new job. Yet, a mountain of student loan debt follows you with every step. Or maybe you had an accident and are being attacked by medical bills, not to mention that car you shouldn’t have bought (but the rims were so darn shiny). Of course, it provides income to cover your loved one’s lifestyle and financials after you’re gone but imagine if instead, they inherit a mountain of debt. Do the right thing, get your debts covered. A life insurance policy can provide a lump sum death benefit to make sure to cover those financial hurdles, as well as make up for the income that was originally intended to take care of it all.

2. Cover your children’s future, even the hypothetical ones!

It’s easy to shrug this one off. Especially if you still haven’t had any children. Keep in mind, if you are in good health and young, you get a fantastic rate today that will get locked in for years to come. For example, if you are in yourmid-thirties and there is a possibility that you might start a family within the decade, a 20-year Term Life policy is recommended. For less than a cup of coffee a day, you can make sure to sleep at ease, knowing your children will have something to fall back on while they are young and vulnerable. It just might be that you have children sometime in the next decade, why not worry about those hypothetical munchkins now? Subsequently, if you do have kids, the reason to buy life insurance is obvious. They need to eat and study. You love them today; you will love them tomorrow.

3. Income Replacement

For those who depend on you, consider income replacement.  In a world when so many homes require two incomes just to cover basic expenses, protecting the flow of funds is more important than ever. What would happen if that flow ceased and the paychecks suddenly stopped? Anyone who needs you to make ends meet would find themselves in a harrowing situation. They might find themselves without the ability to pay rent, food, clothing, utilities and healthcare, just to name a few. Additionally, stay at home parents are no exceptions. Your partner might need child care services which can be quite a significant expense.

Let’s say you’re a sole provider with an annual salary of $50,000, consider $250,000 to $500,000 in coverage just to replace your income.

4. Pay off your end-of-life expenses.

At the end of my days, I might be sleeping with the fishes. I might have my remains scattered across the Netherlands or even molded into a diamond! (Yes… that’s a thing.) But, there will be a funeral. Funerals can actually cost thousands of dollars. From the casket to the ceremony, your loved ones will have to pay. Life insurance can cover your funeral expenses in this case. The monthly payments are a tiny price to pay for leaving a memory, not a chore.

In addition to funerals, consider estate tax plans. If your estate is valued over $11.2 million, your heirs will be stuck with quite a tax bill. That is an end-of-life expense that many younger folks forget to think about.

5. Secure the future of your passion projects.

Many people have businesses and projects that are the result of a lifetime of work. In many cases, this is the legacy they leave behind. If they don’t financially secure these assets, businesses can disintegrate, and projects can slip away into the ether. In fact, it’s a good idea for business owners to each have a plan in place to ensure the survival of their creation. Want to make sure the majority of shares stay in the company? Need to protect your business partner’s interest in the event of you passing? Term Life Insurance is the way to go. Leave protection, not chaos.

6. Sleep a little easier for less than you think.

This one might be obvious because it is a culmination of everything. Life insurance rates are far less than you might imagine. Most people think you might have to cough up three figures a month to get this level of security. In reality, particularly if you set everything up at a young age, the price can be so low that you hardly even notice it! The majority of Americans estimate the cost of term life insurance to be 3 to 4 times more than the actual price.

To conclude, if you’ve ever lost someone, you know how others might feel. The process and stages of grief are intense and it’s best if your loved ones go through it comfortably. If you haven’t experienced this type of loss, the least you can do is prepare for it. Until it happens, no one can truly explain it to you. However, things like financial burdens, funeral costs and loss of income could really affect a family if a member passes away. Consider Term Life insurance. It is easier to take a journey through the grieving process. They say to envision your future and make it a reality. But why envision a future, when you can plan it? So, when you are thinking of types of insurance companies to consider, keep affordability and ease of use. That said, Lifefy was created with YOU in mind. It’s so easy. Just begin the process by clicking here.


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Our company is built on a foundation of values; empathy, integrity and loyalty. From young professionals to new families, we support our clients as they take a proactive approach towards protecting their legacy.

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