YES! Insurance is about peace of mind. You have insurance that protects your home and cars, perhaps even your boat or business. And yet, far too many Americans have little or no Life Insurance—the insurance that protects what is most important, our families.
Think about it. Your family is far more important than anything else you could insure, but you would not think going without the appropriate insurance for your home. Why would you consider not protecting your loved ones in case you can’t be there for them?
The Life and Health Insurance Foundation for Education reports that 40% of the U.S. adults have no life insurance, and millions of Americans have inadequate coverage.
There are many reasons why you may not have adequate Life Insurance. Below are just a few:
1. Employer-Provided Insurance. Do you have Employer-Provided Insurance? This is an amazing benefit for employees who will seek out employers who offer such perks. However, what many people don’t know, is that this type of coverage is rarely sufficient for a family. Often this employer-offered insurance is just a small, flat amount and that coverage ends when the employee leaves the company.
2. Partially Covered. Perhaps you are partially covered. According to the trade organization, Limra, 30% of Americans realize they need more life insurance and 25% of them want their spouse or partner to have more life insurance—but few do anything about it! Now is the time to find out if your family’s needs will be met. Life Insurance Needs Estimators are available online and can help you determine how much life insurance your family really needs.
3. Busy Schedule. We are all busy, and many people don’t have the time, or ability to get an exam that qualifies them for certain types of Life Insurance. No problem! There are many products that can be offered that require no medical exams. Inquire with your agent on the best options for you.
4. Couples. There is sometimes a mistaken perception that in a couple where only one spouse works outside the home, only that person needs to be insured. That is incorrect. The spouse that is not employed may do many jobs that keep that couple and family running smoothly. Consider the costs childcare, eldercare, grocery shopping, meal preparation, housework, etc. All of the things that that spouse does would need to done by someone else in the case of their death. Therefore, both spouses should always be insured.
By addressing any of the questions you may have, you can work through with your agent to find the financial security that you need to be able to take care of your family and loved ones.