Life insurance is too expensive. Life insurance can wait. Life insurance is a waste of money. Life insurance is …. Whatever follows this phrase has undoubtedly been uttered to a life insurance agent. However, each of these reasons AGAINST purchasing life insurance can also be a reason FOR purchasing life insurance.
If paying for life insurance is too expensive, how will a family pay bills if the primary breadwinner were to die unexpectedly? Consider all of your debts. Now add on typical expenses such as housing, food, insurance, clothing, utilities, college tuition and any other future expenditure. Those premiums don’t seem too big once compared to future financial obligations.
Life insurance cannot wait. No one can predict an unexpected death, and the premiums are actually cheaper earlier in life.
As for life insurance being a waste of money, who wants to get their money out of a life insurance purchase? Take a traditional 10-year term policy for example. If the insured dies during the 10-year period, his or her beneficiaries will receive the death benefit. If the insured were to live longer than the 10-year period, he or she would have had financial protection for 10 years with the term insurance. This is hardly a waste of money.
Life insurance saved our family. Life insurance paid off our home. Life insurance was a gift from beyond. Life insurance …. Whatever follows this phrase has undoubtedly been uttered to a life insurance agent. Life insurance is designed for the unexpected and tragic moments in life. No one expects to die prematurely, but it happens every day.
People lose a loved one, and after the initial shock passes, the mind turns to the future. How will I move on? How will I pay for the funeral? How will I take care of my children? The ones left behind will have to pick up the pieces and continue on. This is where life insurance comes into play.
Often feelings about life insurance change after a death, ranging from being upset with the lack of protection, regretting the cancellation of the policy, wishing for more coverage, and the rush of relief knowing that financial burdens will be eased even with the loss of a loved one.
Talk to your agent to make sure your family’s financial future is protected.
For more information about life insurance products to protect your family, see your local independent insurance agent.