Life insurance can often be confusing. Most people know what it is, but aren’t really sure why they need it. This can lead to putting it off or worse….not getting it at all.
September is Life Insurance Awareness Month. Christmas only gets a few days each year, life insurance has an entire month – IT’S THAT IMPORTANT!
Here’s why it matters. If you want to ensure financial security, have future income and pay towards debt in the event of your untimely passing, life insurance is a very important financial security tool for your loved ones. Here are six common excuses surrounding life insurance.
- I have life insurance through my employer. While it may be true, most employer group life policies have a set small death benefit, or one times your annual salary. While this is a good start, it won’t be enough for your loved ones to replace your income over the long term. In addition, if you leave your job the policy doesn’t follow you to the next job. Remember, life insurance is about your family maintaining their lifestyle with your lost income.
- I put my money into savings or investments. Yes, saving for retirement is important. Life insurance shouldn’t be something you look at as a retirement tool. It is there to help loved ones after you pass. Your debt doesn’t disappear after you die, but your paycheck does.
- I’m single….I don’t need it. This is a common misconception that a single person (with or without children) doesn’t need to buy life insurance. The burden of funeral expenses and outstanding debt left behind are obligations still owed after your passing.
- It’s too expensive! Virtually anyone can find a life insurance policy to fit their budget. If you are young and healthy, policies tend to have very affordable premiums. Think of it this way, three less trips a month to get your favorite coffee could get you a very robust policy.
- I’m too busy to hassle with life insurance. We are all busy, we get it. The application process is simple and a typical life insurance medical exam takes 30-45 minutes. A few minutes now talking about life insurance is a small investment into your family’s future financial security.
- What do I know about life insurance? That is where we are here to help. It all starts with a phone call or a visit to determine your unique life insurance needs. Our Lake Central Insurance Services agents can provide a free, no obligation quote, and walk you through the entire process.
Please take the time to start this important conversation, and see just how affordable life insurance can be. Talk is cheap…life insurance can be too. Contact us today!
Who Handles Your Life? #WHYLife
