“Think ahead and get yourself some insurance!” Statements like this are common advice you’ll hear at every stage of adult life, as family, friends, bosses, and co-workers praise the virtues of a good policy. But what exactly makes insurance such a good idea? What are the benefits that make it so beneficial, and how can it work for you? If you’ve had this question on your mind, wonder no more–here are 5 great benefits you’ll experience when you own life or disability insurance.

Your Debts Are Covered 

If you pass away with outstanding debt, your estate’s assets could be liquidated–sold for cash and used to pay your debts. This jeopardizes precious family heirlooms, important collections and any other important things you may have. In some cases, your debts could even legally pass on to your family members, saddling them with the burden of paying for your actions. But with an active life insurance policy, your debts are covered. Every life insurance policy has a “death benefit,” or a sum of money to be paid to a beneficiary upon your death, attached. This ensures the safety of your possessions and your loved ones even when you’re no longer there to protect them.

You And Your Dependents Will Be Taken Care Of 

If you have a disability or you’re injured on the job, your ability to work falls drastically. When this happens, you’ll find that your earning power falls with it. In your time of need, you may find yourself without the vital funds you require to maintain your family’s lifestyle, or even to take care of yourself. But with disability insurance, this concern is a thing of the past. Disability insurance policies pay you benefits if you’re unable to work because of illness or injury. These benefits give you the resources you need to help cover your medical expenses, and they’re the perfect supplement to the income you’ll miss while you’re unable to work. It’s an important way to make sure you’re prepared, and it’ll let you take the time you need to recover from your disability, so you can get back to work only when you’re able.

Your Investment Is Ever-Growing 

Looking to invest in your future? Want a safe, reliable savings plan that’ll be there when you want it? Look into whole life insurance! In addition to death benefits, whole life insurance plans also feature “cash value,” which acts as an ever-growing investment. When you pay your premiums, part of your money is invested in a savings plan. At any time, you can access this money for your personal needs. This means that you can get a whole life insurance policy now and have it gaining value for years to come. And if you decide to cancel your plan, the cash value still goes straight to you. Plus, this investment is tax-deferred! If you want a safe, flexible way to invest in the future, whole life insurance should be a strong consideration.

The Coverage You Need, For When You Need It 

For some, a permanent life insurance plan just isn’t practical. The higher premium costs can be discouraging, especially if you’re not looking for permanent coverage. For others, temporary insurance just won’t do. These people want coverage that will last a lifetime, keeping them safe well into the future. Luckily, no matter what the need, there’s an insurance policy for you. Those looking for lifelong coverage can invest in whole life insurance, which has fixed premiums and no end date. Those looking to cover a large temporary expense can get term life insurance, covering them only as long as they feel they need it. And there are even different types of disability insurance, so you’ll be covered whether you work a dangerous temporary job, or live with a permanent disability. Whatever your need, there’s a life or disability insurance policy that can fill it.

Peace Of Mind 

For some, the overwhelming comfort that comes with owning life or disability insurance is reason enough to have it. With the right insurance, you’re covered against any unforeseen accidents, disabling experiences, or tragic passing. You’ll have no stress about what will happen if you’re injured or pass away because with an insurance policy you know that whatever happens, you and your loved ones will have the resources to carry on. Insurance gives you the security of knowing that you’re taken care of, so you can live your life free of worry, knowing your insurance will be there for you when you need it most.