Do I actually need life insurance?
It’s Life Insurance Awareness Month! We’re raising awareness here and we want to help you with ALL of your insurance needs.
Let’s face it, society buys insurance for their bodies, homes, vehicles, recreational toys and even their animals but hesitate to buy life insurance to protect their family’s future. Why is that? Life insurance is one of the greatest gifts you can ever give your family. 71% of people say they need life insurance yet only 59% have a policy.
Many people say, “I have a policy through work.” If your employer provides you with a life insurance policy, that is a wonderful benefit however, what happens when you leave that job or (heaven forbid) lose that job? You also lose that policy. Purchasing your own policy is best so no matter what obstacles life throws at you, your life insurance policy will remain intact and you will have the comfort and peace of knowing that your family is protected in event of an accident.
So why are people so hesitant about purchasing life insurance?
1. It’s too expensive. Not true, it is too expensive to not have life insurance. If you are proactive and purchase a policy in your 20’s, 30’s or 40’s you will pay far less and will be able to lock in your low price for up to 30 years. If you wait until you are in your 50’s and 60’s, it will certainly cost you more. See the sample rates below:
|
Age |
Gender |
$250,000; 30 year term policy |
|
25 |
Male |
$22.00/month |
|
25 |
Female |
$18.00/month |
|
35 |
Male |
$26.00/month |
|
35 |
Female |
$22.00/month |
|
45 |
Male |
$57.00/month |
|
45 |
Female |
$45.00/month |
|
55 |
Male |
$155.00/month |
|
55 |
Female |
$109.00/month |
** All rates are subject to underwriting approval
** Preferred Non-smoking rates shown above
2. I don’t want to have a medical exam. The sooner you buy life insurance the more likely it is that you will not have a medical exam. Technology has improved in the world of insurance underwriting and many applicants are able to secure life insurance without having to submit to a medical exam. If you do need to have a medical exam, the exam is done in the comfort of your own home and is not invasive. They take your weight, a small amount of blood, a urine sample and take your blood pressure. The process is fast and no charge to the customer.
Those are the top two reasons why people wait to purchase life insurance. Hopefully we have demonstrated that it is not in your best interest to wait. You never know what the future holds. It is better to be 5 years early purchasing your life insurance policy, than 5 seconds too late.
Give Chris, our life insurance specialist, a call today for your free no obligation quote. 616-897-1515 x 119
