When buying life insurance people are usually doing it for the benefit of those that they love. When doing so they look at things their loved ones will need in the future if themselves were to die, common reasons would be:
“My family relies on my income”,
“My loved ones don’t have the money to cover my final expenses or to cover the taxes on my estate.”,
“My spouse couldn’t do it all.”,
“My kids will be going to college.”,
“My spouse will be devastated. There’s no way they’ll be able to work right away.”
Purchasing Life Insurance is a great way to ensure that your loved ones have a great, fruitful, and secure future if you were to pass. In a 2019 study by the Life Insurance Management Research Association, they found that over 1/3rd of Americans wished their spouse had life insurance, 1 out of 3 is a huge amount! If someone you loved felt that way, wouldn’t you go get life insurance for them?
People usually overlook Life Insurance when they are thinking of ways to provide, and it’s understandable. But once you realize how important it can be, you’ll know that it’s never really too late to start coverage!