As Valentine’s Day approaches, you’d want to give your loved ones the best gift to express your love to them. There are the usual gifts you can give, like roses, chocolates, or romantic getaways and dinners in five-star restaurants. However, there is something that is more meaningful and will say in big bold letters: “I LOVE YOU and I CARE FOR YOUR WELLBEING.”

This thing is not a common gift you might not even think of and maybe the best thing you can give in these post-pandemic and financially trying times: life insurance. Also, it might be the most selfless and significant gift for them.

Purchasing life insurance is the most altruistic thing you can do since you are putting their needs before your own. It is a way to show that you truly care for them while you’re still alive and continue even as you pass away. 

Five Ways Life Insurance Can Protect Your Loved Ones

Life insurance can protect them in many ways, almost as many as there are Valentine’s Day gifts:

1. It will enable your spouse to enjoy life. It is because life insurance replaces the deceased person’s annual income, provides for medical benefits, and can also be used in replacement of the savings that would be derived from retirement.
   Life insurance can enable your spouse to land on his or her feet after you pass away and provide enough finances to enjoy a good quality of life.
2. It can help make your kids’ lives easier. In these post-pandemic times where the U.S. economy isn’t as productive as it was before, a typical family can take as much as five years to recuperate from the demise of the primary breadwinner. Five years is a long period in the life of a child, and a lot can happen during these years. It would be a shame for them to undergo financial difficulties.
   Life Insurance can make the life of your children easier after experiencing the shock of losing you.
3. It can help prevent various illnesses and maintain their health. Even though this might sound strange, life insurance can operate to prevent sicknesses and promote health for family members who are left behind after the death of a loved one.
   Your life insurance can enable your family members to have enough money to eat healthily and to pay for doctor’s appointments, hospital bills, and health insurance premiums after you pass away.
4. It can get rid of death-related debt. When a death in the family happens, it is expensive and usually accompanies various debts like hospital bills, funeral, and cemetery costs, estate taxes, etc. A reliable life insurance policy takes care of these costs so the family members left behind will not have to.
5. It can keep their hopes and dreams alive. The death of a parent can lead to financial hardships if there is no life insurance in the picture. The children left behind will need money for school and perhaps for getting married later on. By getting life insurance, you can make sure your children are still able to hope and dream for a better future where they can pursue higher education, get good jobs, and make wedding plans without financial hardships.

How Life Insurance Affects You and Your Family Members

1. For yourself. When you purchase life insurance for yourself, you provide peace of mind and financial security for your family. While its benefits do not replace you, it will continue to provide for them after you pass away. Your beneficiaries will use the money for their daily expenses, debt payment, emergency funds, tuition fees, and funding for retirement. 
2. For your partner. Life insurance is a way to show love and affection for your spouse. He or she can select the beneficiary and give financial aid to your aging parents or your kids. It can also pay the outstanding debts incurred, end-of-life expenses, retirement savings, or fund a favoured charity.
3. For your kids. Insuring your offspring early in life has advantages that can grow over time and provide insurability, security, and opportunities to increase wealth. 

Conclusion

Buying a life insurance policy can give your family the needed peace of mind to know they will get money after you pass away which may lead to incurring financial problems. It is the ultimate expression of love since the insured person is leaving guaranteed money for remaining loved ones. For this Valentine’s Day, give them the best gift of life insurance.

To get the best and most sound financial advice, Jojo Alamillo is the financial adviser you will need. Go to his sites tanconnects.com/jojo and ascend99.com, email him at jojo@ascend99.com, or find him on his Facebook page Ascend99 Inc.