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We have recently been talking about whats important in life and are therefore pleased to host this guest post about "Why Life Insurance is Vital"

If you do not currently own a life insurance policy, you should consider shopping for life insurance quotes today using a comparison site like Compare the Market. You never know when misfortune will befall. Everything from an unexpected accident to a serious illness could bring your life to an end long before you thought it would, and life insurance offers your loved ones with financial protection during and after this event. This is vital coverage that can benefit everyone in multiple ways. Consider these points.

1. Funeral Costs. The cost of a funeral includes the actual memorial service, a burial plot, a grave stone and more. These expenses are generally incurred within a few days of a person's death, and they can cost a significant amount of money. Many people do not have this large amount of money readily available to spend on a funeral, but life insurance proceeds can pay for the expenses associated with a funeral.

2. Personal Debts. Many people today have numerous personal debts. These may include a car loan, a home mortgage, credit card balances and more. If you required medical care before your death, you may have medical debts that need to be paid. After death, your loved ones may sell your assets in order to pay off your debts. However, you may owe more money to your creditors than your assets are worth. Another possibility is that your loved ones want to retain your assets as mementos, heirlooms and more. Life insurance proceeds can be used to pay off the balance of your debts quickly, easily, and without the need to sell assets.

3. Loss of Income. If you contribute financially to the livelihood of others, your death will result in a loss of income they depend on. They may not have enough income to continue living in their home or otherwise to maintain their lifestyle without your income. Even if you do not contribute financially, you may contribute in other ways. For example, if you are a caregiver or a stay-at-home parent, your death may create the need for additional services to be purchased in order to maintain the lifestyle of a loved one. The services of a maid, a nanny or someone else may need to be purchased. Life insurance can pay for these services and support their lifestyle after you are gone.

4. Future Plans. It can be difficult to think of your loved ones carrying on with their lives without you, but after mourning your loss, they will eventually want to get back to the plans they had for the future. Your spouse may need to retire; your kids may have plans to attend a university and more. These future plans may have required your financial or other valuable contributions. Life insurance can help your loved ones continue on with future plans.

As you can see, life insurance is vital to paying for so many expenses related to your death as well as to promoting the future well-being of your loved ones. With this mind, consider reviewing your current life insurance needs, and get quotes for the cover you need.

Disclosure: This is a guest post for which I received compensation