When you think of Valentine’s Day gifts for your special someone, chocolates, roses, and romantic dinners may come to mind. One thing that likely won’t cross your mind is life insurance, but there are many reasons why a life insurance policy can be one of the most meaningful, selfless gifts you can give your loved ones.
Although it’s difficult to contemplate what would happen to your family if you were no longer around to provide for them, it’s important to be prepared for life’s unexpected events. When it comes to the unfortunate event of an unexpected death, life insurance represents a valuable solution. A life insurance policy can provide you with peace of mind, knowing that your family will receive cash after you die to help them remain financially stable.
When you buy a life insurance policy for yourself, you give your loved ones financial security and peace of mind. While life insurance benefits don’t replace you, they are a small way you can continue to provide for your loved ones after you’re gone. Your beneficiaries can use the money for miscellaneous purposes, including daily living expenses, an emergency fund for the future, debt repayment, school tuition or retirement account funding.
You might also be interested in: How to Choose a Life Insurance Beneficiary
Life insurance is an expression of your love and care. Your partner can choose the beneficiary and provide financial assistance to children or aging parents. The policy payout could also repay your partner’s outstanding debts, fund a favorite charity, cover end of life expenses or boost your retirement savings.
Insuring a child early in life has advantages that can grow over time. Catholic United Financial offers several life insurance products that give families security, insurability, and wealth-building opportunities. Our Youth Term Life policy provides term protection at affordable rates, can be converted to term or permanent insurance to age 30, offers eligibility for a post-high school tuition scholarship, and provides a $25 donation to a Catholic school or religious education program.
This Valentine’s Day, give the gift of a lifetime, literally and present your loved one with life insurance.