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
- Exploring the Benefits of Whole Life Insurance Beyond Basic Coverage
- The Critical Role of Life Insurance in a Comprehensive Personal Finance Strategy
- A Layman's Guide to Choosing the Right Health Insurance Plan
- Flu Season Survival Guide
- Prioritizing Preventive Care in Your Wellness Journey
- Brown and White Eggs: What’s the Difference?
- DIY Disaster Preparedness Kit: Make your own disaster preparedness kit with these essentials to keep your property and family safe
- Why Supplemental Health Insurance Might Be Worth Considering
- The Benefits of Bundling: How Combining Policies Can Save You Money
- Health Savings Account: Is It Worth It Having it?
- The Impact of New Technology on Insurance
- Protecting Your Investments: The Role of Insurance in Wealth Management
- Insurance Myth Busters: Debunking Common Misconceptions about Coverage
- Understanding Your Health Insurance Deductible: Tips for Making the Most of Your Coverage
- The Evolution of Insurance: Trends and Innovations Shaping the Industry
- Healthy Habits for the Summer: Tips for Utilizing Your Health Insurance Benefits
- The Future of Work
- Emergency Preparedness: How Insurance Can Provide Peace of Mind During Crises
- Managing Chronic Conditions: How Health Insurance Can Help You Stay Healthy All Year Round
- Navigating Insurance Renewals: Tips for Reviewing Your Policies
- The Importance of Preventive Care Coverage: How Your Health Insurance can Save You Money in the Long Run
- Easy & Creative Ideas to Refresh Your Home for Summer
- Tips for a Stress-Free Tax Season Experience
- Spring fitness ideas
- Creating a Positive Start to Your Day
- New Year's Resolutions: Staying Committed Year Round
- The Magic of Christmas Traditions
- Staying Healthy During the Winter Months!
- How to be a Time Management Whiz During this Busy Season
- Mastering the Mind: Techniques for Better Memory and Cognitive Function
- The Art of Productive Procrastination: How to Make the Most of Downtime
- Eating for Energy: Foods that Boost Your Stamina and Productivity
- How to enjoy and celebrate chilly, gloomy days
- Best Dog Breeds that Suit Your Needs
- Reduce Stress: Develop Patience
- DIY Delights: Creative Projects for Seniors
- Coping with Seasonal Affective Disorder (SAD)
- Long-term Health Benefits of Physical Activity
- How to Trim Down Hidden Costs of Flying
- Best foods for hydration
- How to Experience Positive Aging (8 Tips)
- How much should you actually have in savings?
- Are you underinsured for your circumstances?
- How to Build Sustainable Wealth
- Enhancing Resilience as We Age
- The Body After 60: Overcoming Barriers to Exercise
- The best herbs to grow for beginners
- Foods you had no idea you could freeze
- Is celebrating your 100th birthday no longer a dream?
- Medicare and Medicaid: Dual eligibility
- Summer Workouts for Your Dose of Vitamin D
- What’s Keeping You from Losing Weight?
- Music and Your Wellbeing
- How to Dispose of Unused Medications
- Aging and Our Body’s Ability to Heal Itself (Copy)
- Aging and Our Body’s Ability to Heal Itself
- Keeping Health Insurance After a Layoff (Copy1)
- Keeping Health Insurance After a Layoff
- Waking Up to the Impact of Insomnia (Copy)
- Waking Up to the Impact of Insomnia
- How Life Insurance Benefits Women (Copy)
- How Life Insurance Benefits Women
- What experts say about raising the retirement age (Copy)
- What experts say about raising the retirement age
- Coverage for healthcare treatment denied? Here's what you can do.
- Coverage for healthcare treatment denied? Here’s what you can do.
- Sharing the Road with Cyclists (Copy)
- Sharing the Road with Cyclists
- Buying Life Insurance for an Elderly Parent?
- Buying Life Insurance for an Elderly Parent?
- Medicaid Unwinding: Your Questions Answered
- Living Your Best Life After 60 (Copy)
- Living Your Best Life After 60
- Buying Health Insurance: A Millennial’s Guide (Copy)
- Buying Health Insurance: A Millennial’s Guide
- Self-Love Ideas for Valentine’s Day (Copy)
- Self-Love Ideas for Valentine’s Day
- Life Without Clutter (Copy)
- Life Without Clutter
- Set Yourself Up for Success with Your Fitness Routine
- Winter Hydration – Do I Need It? (Copy)
- Winter Hydration – Do I Need It?
- I’m 60+; Do I Need Life Insurance?
- Why Do I Keep Breaking My New Year's Resolutions?
- Why Do I Keep Breaking My New Year’s Resolutions?
- Closing Out the Year with a Smile!
- Closing Out the Year with a Smile!
- How to Enjoy a Long Layover (Copy)
- How to Enjoy a Long Layover
- 6 Cold Weather Safety Tips (Copy)
- 6 Cold Weather Safety Tips
- 10 Tips for Managing Cholesterol Levels (Copy)
- 10 Tips for Managing Cholesterol Levels
- How Much Life Insurance Do You Need Right Now? (Copy)
- How Much Life Insurance Do You Need Right Now?
- 3 Top Tips for Better Posture (Copy)
- 3 Top Tips for Better Posture
- Building Bone Density for Seniors (Copy)
- Building Bone Density for Seniors
- Living Outside Your Comfort Zone in Retirement (Copy)
- Living Outside Your Comfort Zone in Retirement
- 3 Top Habits that Lead to a Happy Life After Retirement (Copy)
- 3 Top Habits that Lead to a Happy Life After Retirement
- Should You Insure Your Gifts? (Copy)
- Should You Insure Your Gifts?
- Everything You Need to Know When Retiring Under 65 (Copy)
- Everything You Need to Know When Retiring Under 65
- 7 Benefits of Slow Travel (Copy)
- 7 Benefits of Slow Travel
- Utilizing Medicare Preventative Services
- Utilizing Medicare Preventative Services
- The Harsh Reality of Credit Card Fees (Copy)
- The Harsh Reality of Credit Card Fees
- Keeping Your Health Insurance Affordable (Copy)
- Keeping Your Health Insurance Affordable
- 7 Tips to Weather Challenging Periods in Your Life
- 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 (Copy)
- 4 of the Best Ways to Stay Healthy this Summer
- How to Prevent Sun Damage to Your Eyes (Copy)
- How to Prevent Sun Damage to Your Eyes
- 3 Tips for Safer Grilling (Copy)
- 3 Tips for Safer Grilling
- When the Sun is NOT Your Friend (What You Need to Know about Sun Exposure) (Copy)
- When the Sun is NOT Your Friend (What You Need to Know about Sun Exposure)
- Tips to Avoid Stress Eating (Copy)
- Tips to Avoid Stress Eating
- Common Exercise Pains – How to Work Past Them and When to Call for Help (Copy)
- 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) (Copy)
- Signs Your Identity Has Been Stolen (and what to do about it)
- How Does Inflation Affect Life Insurance? (Copy)
- How Does Inflation Affect Life Insurance?
- Know the Benefits of Walking (Copy)
- Know the Benefits of Walking
- Do Brain Food Supplements Really Work? (Copy)
- Do Brain Food Supplements Really Work?
- Ways You Can Spend Less on Gas (Copy)
- Ways You Can Spend Less on Gas
- What Are Alternatives if LTC isn't Right for You?
- What Are Alternatives if LTC isn’t Right for You?
- 4 Tips for a Less Stressful Summer (Copy)
- 4 Tips for a Less Stressful Summer
- Veteran and Medicare Benefits Work Together (Copy)
- Veteran and Medicare Benefits Work Together
- What are the Safest States From Natural Disasters? (Copy)
- What are the Safest States From Natural Disasters?
- How to Choose an In-Home Care Provider for Your Loved One in 5 Steps (Copy)
- How to Choose an In-Home Care Provider for Your Loved One in 5 Steps
- 7 Myths About Your Back Pain (Copy)
- 7 Myths About Your Back Pain
- 5 Foods that Will Help Keep Your Mind Healthy (Copy)
- 5 Foods that Will Help Keep Your Mind Healthy
- Don’t Throw Away Those Used Coffee Grounds (Copy)
- Don’t Throw Away Those Used Coffee Grounds
- I’m 50 Years Old. Should I Keep My Life Insurance? (Copy)
- I’m 50 Years Old. Should I Keep My Life Insurance?
- How to Spot Government Imposters (Copy)
- How to Spot Government Imposters
- 5 Mistakes to Avoid When Buying a Life Insurance Policy (Copy)
- 5 Mistakes to Avoid When Buying a Life Insurance Policy
- Happiness Through Healthy Food (Copy)
- Happiness Through Healthy Food
- 5 Step Checklist to Choosing a Health Insurance Plan (Copy)
- 5 Step Checklist to Choosing a Health Insurance Plan
- 5 Creative Spring Décor Ideas
- 5 Creative Spring Décor Ideas
- 10 Ways to Maintain Healthy Joints
- 10 Ways to Maintain Healthy Joints
- 3 Incredible Healthcare Smart Technologies Coming Your Way
- 3 Incredible Healthcare Smart Technologies Coming Your Way
- Do I Need a Long-Term Care Plan? (Copy)
- 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 (Copy)
- How to Take Care of Your Personal Intangible Assets
- Dream All-Inclusive Trips to Escape the Cold (Copy)
- Dream All-Inclusive Trips to Escape the Cold
- How to Get Health Insurance if You’re a Freelancer (Copy)
- How to Get Health Insurance if You’re a Freelancer
- Safety Tips for Driving in Winter (Copy)
- Safety Tips for Driving in Winter
- Ways to Locate a Lost Life Insurance Policy (Copy)
- Ways to Locate a Lost Life Insurance Policy
- Critical Times in Life that You Need Life Insurance (Copy)
- Critical Times in Life that You Need Life Insurance
- Giving and Forgiving (Copy)
- Giving and Forgiving
- Why Buy Life Insurance on Children (Copy)
- Why Buy Life Insurance on Children
- Things We Are Grateful for This Year
- Things We Are Grateful for This Year
- What to Avoid When Switching to Medicare from the Public Health Exchange (Copy)
- What to Avoid When Switching to Medicare from the Public Health Exchange
- How to Host a Successful Virtual Holiday Party (Copy)
- How to Host a Successful Virtual Holiday Party
- Is One of These Factors Keeping You from Seeking Life Insurance? (Copy)
- Is One of These Factors Keeping You from Seeking Life Insurance?
- Ben Franklin: Father of Modern Insurance
- Who Invented Insurance Anyway?
- 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