When planning for the future of your family, it is important to ensure that you are financially covered in case anything unexpected happens. A life insurance policy with living benefits is an excellent way to make sure your loved ones are taken care of even if you’re not around.
So should your wife have a life insurance policy with living benefits?
The answer is yes!
While life insurance is generally of as something for breadwinners, it is important to realize that in most families, both spouses provide a financial contribution and are equally important to the family’s overall security.
If something unexpected happens to your wife, having a life insurance policy with living benefits can be a great source of financial protection.
Living benefits such as accelerated death benefits, critical and chronic can provide a cash advance that your wife can use to pay for medical expenses, pay off debt, or pay for other necessities. They can also help supplement a reduction in income if she has to leave the workforce to manage her care.
In addition to providing financial protection, a life insurance policy with living benefits can also help provide peace of mind. Knowing that you have taken steps to protect your family financially should anything happen can provide a sense of security and assurance that is invaluable.
Ultimately, your wife should have a life insurance policy with living benefits if you wish to be sure that you have provided your family with a much–needed financial backstop should something happen to her. It is a great way to think ahead and make sure that your family is financially protected.