How special would it be to give a loved one life insurance as a Christmas gift? Granted, it is a very unusual idea, but remember, it is the thought that counts. Ensuring someone’s access to living expenses is a charitable thought that goes a long way in showing respect and care. Here are some other important reasons to give someone life insurance as a Christmas gift.
Protecting Family Interests
One of the best ways to show someone you care for them is to provide financial support. Life insurance can provide a wide range of advantages, including living expenses and a growing investment against which you can borrow if needed. There are different types of coverage, and each customized plan must fit a family’s specific needs. Whole life insurance provides the maximum coverage, while term life insurance only provides coverage for a set term that eventually expires.
A life insurance policy pays family members and other beneficiaries when the policyholder dies or becomes ill. It is a way of ensuring children are taken care of, such as with living expenses. This gift can be given to anyone at any age.
Certain Life Insurance is Affordable
Life insurance as a Christmas gift is much more affordable than you might expect. Term life is cheaper than whole life when it comes to the monthly premium but has fewer financial benefits. Despite not building interest as a savings account, term life is still better than not having any coverage. However, if you buy a whole life policy, which costs more in premiums, you will build equity for your life, which can serve as an emergency fund for anything.
Adds Interesting Options for the Holidays
While the two main types of life insurance are whole life and term life, both offer variations for customers to fit their needs. Keep in mind that term life can be converted into a whole life plan at some point. Your recipients will have to fill out paperwork that takes several weeks to process, so you might consider letting them know about the gift before Christmas.
Giving the Most Unique Gift Possible
Even though the holiday season is meant to elevate cheer, some people worry that they are not giving a loved one something special or unique. Consider how giving a loved one life insurance stands out as incredibly unique. Most Christmas gifts fall into material product categories whose value may reduce with time, whereas insurance can be worth much more in value over time.
Avoid Crowded Shops
Usually, holiday shopping times create traffic congestion and packed malls. During the current pandemic, shopping in crowded areas could increase your risks of exposure to the virus. You can beat the mad rush and risk of infection by setting up your life insurance gift online. Instead of burning gas by going from store to store and not knowing if you will find the right present, you will have clarity and peace of mind you are giving someone an extraordinary gift. You can also meet with a broker to discuss various options for preparing your gift.
Think about giving a friend or relative the ultimate surprise for the holidays, such as life insurance as a Christmas gift. It is the type of gift that will be long remembered and will provide years of relief. Contact our experts at J. Archer Insurance Group or give us a call @ 619-4347-4700 if you have questions or want to plan a visit. We wish you a safe, happy, and enjoyable holiday season.