09/01/2026
September is Life Insurance Month! Please give us a call to get the right policy to protect your loved ones!
Top Three Reasons Why People Buy Life Insurance
Before you get life insurance coverage, you should understand why you need it. While there are many reasons to buy life insurance, the most common reasons include:
1. Final expenses: Final expenses refer to any expenses related to someone’s passing. This can include a casket, funeral, preparations, memorial service, cremation and more. Life insurance for final expenses is worth considering—after all, the National Funeral Directors Association reports that the median price of a funeral with a casket is around $7,850. Families without enough funds are forced to cut back on the service or ask friends and family for donations. Some families have turned to crowdfunding to help cover the cost. A modest term life insurance policy can unburden your loved ones by taking care of these expenses.
2. Income replacement: Your loved ones depend on your income to meet daily needs for food, medical care, utilities, car payments and much more. There are also future costs like a child’s college education or contributions you would have made toward a surviving spouse’s retirement. If you pass away without a means for replacing your income, their standard of living could be in serious jeopardy. Having a life insurance policy in place can help provide financial security and the ability to maintain your current lifestyle (especially if you stay home with young children). How much life insurance you need is based on two factors: your salary and the number of years until you retire. An insurance agent will also account for any other factors such as Social Security benefits, your partner’s income, your debt and your savings. Always aim to buy the amount you really need—but also remember that something is better than nothing when it comes to life insurance coverage. (Spoiler alert: it’s more affordable than you may think!)
3. Paying off a mortgage: A mortgage is often the biggest single line item in a person’s budget. Could your family afford your home’s mortgage without your paycheck in the picture? If not, an already sad situation would be compounded by the family possibly losing the house they love. This could also mean your children could no longer attend a school in their current district or maintain the friendships they currently have. Life insurance can pay off an outstanding mortgage so your family can enjoy the home they love without the burden of outstanding payments.
These are the three most common reasons people purchase life insurance. Yet there are many other reasons for buying life insurance, such as building or leaving an inheritance, saving for retirement, protecting student loan co-signers and more.
Life Insurance=Love Insurance
At Pine Hill Insurance Agency, located at 919 DeClark St, Beaver Dam, we understand that Insurance can sometimes be hard to understand, and Life Insurance can even be more confusing and sometimes scary! We like to think that our clients come first and if you don’t understand what you are getting and what you are paying for, we have not done our job.
Salim Mohammed, the Principal Agent, and Owner of Pine Hill Insurance will take the time to sit down with you and explain all your insurance options in a common-sense, no-nonsense way and never pressure you into getting a policy that is not right for you. He will take the time to explain each part of your policy and advise you as to what your options are.
Whether it’s personal lines, commercial lines, or life insurance, we are here to make sense of it all and want you to leave with a true understanding of your insurance policy.
