Is One of These Factors Keeping You from Seeking Life Insurance?
For over 200 years, life insurance has protected families from the untimely passing of a loved one. And for just as long, many individuals have relied on mythical reasons not to purchase coverage of their own. Today we tackle the four primary reasons consumers do not purchase life insurance and why seeking coverage should become your priority number one.
#1 It’s Too Expensive
It may be easy to think the cost of a $500,000 life insurance policy must be expensive. But with increased competition, better underwriting, and people living longer, the cost of term life insurance has plummeted. Sure, other life insurance policy types such as whole or universal may be out of your budget. But if your goal is to protect your family today (and it should be), term is the way to go. Consider a 45-year-old, nonsmoking male can purchase a 20-year $500,000 policy for only $78 a month! That’s less than your cup of joe every morning.
#2 I’m Healthy and Fit
That’s fantastic! And you should be proud of staying healthy not only for yourself but for your loved ones too. But we are not invincible. Although the risk for cancer or other diseases may be reduced with a healthy diet and a regular exercise routine, no one is completely immune. Tack on the everyday risks of accidents ranging from automobile crashes to freak environmental events, the sudden passing of a healthy and fit individual would be only that more shocking for the loved ones left behind.
#3 I Have Enough Assets
Congratulations on building up a wealth of assets. However, the question which must be sufficiently answered is whether those assets can replace the income necessary to support your family for years to come. Your assets today may be enough to pay for the necessities including the mortgage, food, and utilities. But, without enough assets or life insurance, some financial needs may never be achieved, such as college funding or your daughter’s wedding. Before dismissing life insurance, do the math to make sure your assets can pay your family’s needs today and in the future.
#4 It’s Too Difficult to Obtain
By now, hopefully, you are convinced life insurance is an important part of a solid financial plan, no matter how difficult it may be to obtain. But good news… obtaining a life insurance policy today has never been easier! Many insurance companies offer policies with no medical exam. Others can insure individuals with pre-existing medical conditions. And yet others can even insure you if you engage in high-risk activities or lines of work.
At the end of the day, life insurance is not for you. It is for your family to ensure they have the financial resources available to live out their dreams, even if you can’t be there with them.
Featured Blogs
- Aging and Our Body’s Ability to Heal Itself
- Keeping Health Insurance After a Layoff
- Waking Up to the Impact of Insomnia
- How Life Insurance Benefits Women
- What experts say about raising the retirement age
- Coverage for healthcare treatment denied? Here’s what you can do.
- Sharing the Road with Cyclists
- Buying Life Insurance for an Elderly Parent?
- Medicaid Unwinding: Your Questions Answered
- Living Your Best Life After 60
- Buying Health Insurance: A Millennial’s Guide
- Self-Love Ideas for Valentine’s Day
- Life Without Clutter
- Set Yourself Up for Success with Your Fitness Routine
- Winter Hydration – Do I Need It?
- I’m 60+; Do I Need Life Insurance?
- Why Do I Keep Breaking My New Year’s Resolutions?
- Closing Out the Year with a Smile!
- How to Enjoy a Long Layover
- 6 Cold Weather Safety Tips
- 10 Tips for Managing Cholesterol Levels
- How Much Life Insurance Do You Need Right Now?
- 3 Top Tips for Better Posture
- Building Bone Density for Seniors
- Living Outside Your Comfort Zone in Retirement
- 3 Top Habits that Lead to a Happy Life After Retirement
- Should You Insure Your Gifts?
- Everything You Need to Know When Retiring Under 65
- 7 Benefits of Slow Travel
- Utilizing Medicare Preventative Services
- The Harsh Reality of Credit Card Fees
- Keeping Your Health Insurance Affordable
- 7 Tips to Weather Challenging Periods in Your Life
- What is a Variable Annuity? 4 Key Details You Should Know
- 4 of the Best Ways to Stay Healthy this Summer
- How to Prevent Sun Damage to Your Eyes
- 3 Tips for Safer Grilling
- When the Sun is NOT Your Friend (What You Need to Know about Sun Exposure)
- Tips to Avoid Stress Eating
- Common Exercise Pains – How to Work Past Them and When to Call for Help
- Signs Your Identity Has Been Stolen (and what to do about it)
- How Does Inflation Affect Life Insurance?
- Know the Benefits of Walking
- Do Brain Food Supplements Really Work?
- Ways You Can Spend Less on Gas
- What Are Alternatives if LTC isn’t Right for You?
- 4 Tips for a Less Stressful Summer
- Veteran and Medicare Benefits Work Together
- What are the Safest States From Natural Disasters?
- How to Choose an In-Home Care Provider for Your Loved One in 5 Steps
- 7 Myths About Your Back Pain
- 5 Foods that Will Help Keep Your Mind Healthy
- Don’t Throw Away Those Used Coffee Grounds
- I’m 50 Years Old. Should I Keep My Life Insurance?
- How to Spot Government Imposters
- 5 Mistakes to Avoid When Buying a Life Insurance Policy
- Happiness Through Healthy Food
- 5 Step Checklist to Choosing a Health Insurance Plan
- 5 Creative Spring Décor Ideas
- 10 Ways to Maintain Healthy Joints
- 3 Incredible Healthcare Smart Technologies Coming Your Way
- Do I Need a Long-Term Care Plan?
- Senior Diet: To Meat or Not to Meat
- How to Take Care of Your Personal Intangible Assets
- Dream All-Inclusive Trips to Escape the Cold
- How to Get Health Insurance if You’re a Freelancer
- Safety Tips for Driving in Winter
- Ways to Locate a Lost Life Insurance Policy
- Critical Times in Life that You Need Life Insurance
- Giving and Forgiving
- Why Buy Life Insurance on Children
- Things We Are Grateful for This Year
- What to Avoid When Switching to Medicare from the Public Health Exchange
- How to Host a Successful Virtual Holiday Party
- Is One of These Factors Keeping You from Seeking Life Insurance?
- Who Invented Insurance Anyway?
- Common Senior Micronutrient Deficiencies
- The Art of Aging Well
- Insure What? Celebrity Body Parts Insured
- Using HSAs in Your Retirement Planning
- 6 Strange Insurance Policies You Can Buy
- How Valuable Is Cash Value Life Insurance?
- Mistakes You Can Make When Exercising at Home
- Why You Should Never Lie to the Underwriter
- Forget Salad Recipes, Try a Salad “Matrix”
- Will My Life Insurance Policy Cover Me If Something Happens While Traveling?
- I’ve Been Denied a Life Insurance Policy. Now What?
- Bucket List Ideas and Why It’s Important
- Getting Fit Before the Medical Exam
- The Basics of Insurance APIs
- 8 Gas Savings Tips During Summer
- How to Stay Hydrated During the Summer Season
- Safety Tips for Outdoor Barbecues
- What You Don’t Know About Senior Fitness
- The Last Guide to Chair Yoga You’ll Ever Need
- Sleep Care is the New Self-Care
- Tips for Making Dinnertime Special
- 7 Ways to Improve the Quality of Life of Seniors You Care About
- Ways to Get the Best Health Care
- Adapt Your Home for Safe Mobility
- Why Gardening is Good for Your Health