Why You Need Life Insurance

My wife and I got married seven years ago after we graduated college. We both have good paying, stable jobs. But in today's economy we need both of our incomes to pay the bills. In the seven years we have been married, we have bought a great four bedroom house that has enough room for our three and five year old boys. In another 26 years we will actually be homeowners (the bank owns it now). Thirteen years from now our first kid will be starting college and the other following two years after. We started a college savings plan for the two of them last year. We both drive nice cars that we are still paying for. I still have five years of student loan payments while my wife was able to get scholarships and grants for her college education. Our credit card debt is manageable and we are pretty responsible with them. Life is going good until one day I was driving home from work late, it was raining, it was dark, the roads were slick, and the semi-trailer in front of me jack-knifes in the middle of the freeway. I slam on the brakes but on the wet road, my car skids right into the trailer of the semi, killing me instantly.

In that brief second before my car slams into the semi-trailer, my family's future flashes before my eyes...

Seven months after my death my house gets repossessed from the bank because my wife cannot afford to make the payments with her income alone. We didn't have life insurance. The credit card debt that was manageable is now a high balance because my wife had to use it to pay for my funeral expenses. We didn't have life insurance. All of those bills that WE used to pay for, my wife now pays. We didn't have life insurance. She is having a hard time making ends meet because now she is paying bills with one income instead of two. We didn't have life insurance. My children's future education is now in jeopardy because she cannot afford to continue the college savings plan we had set up. We didn't have life insurance.

One second was all it took to transform the American Dream into a Nightmare. Why? We never took the time to protect ourselves with Life Insurance.

Have you ever heard the term "insurance poor?" We don't think twice about insuring our vehicles, our homes, our health, but no one ever thinks about their life. Why do I need to buy insurance for my Life?

There are many different reasons for buying life insurance:

1.Funeral Expenses

2.Pay off outstanding debt

3.Pay the outstanding mortgage

4.Planning for children's education expenses

5.Pay estate taxes

6.Provide income for your spouse

7.Pay for your last medical expenses

8.And many other reasons

Now the big question is: Where can I find Affordable Life Insurance in Michigan?

I recommend finding an insurance broker and not a captive agent when looking for life insurance. An Insurance broker usually represents many insurance carriers and can actually search them all to find you the best rates for life insurance. A captive agent can only offer you products for the company he/she works for.

You can use a quoting service like Quotes Auction, which helps you find a broker or agent that specializes in Life Insurance. Keep in mind that you will have agents calling you offering their services. Remember to ask if they are a broker or captive agent. They will be able to help you find Affordable Life Insurance in Michigan.

***This story is fictitious to show the importance of life insurance, but it isn't very farfetched.