Life Insurance is something nobody really wants to talk about, mainly because it forces them to face the fact that they will not live forever. The truth is, we will never really know how long we have to accomplish all of the things we want to do in our lifetime.
Nearly HALF of Americans today have no life insurance, mostly because they don’t understand the need for it, think it’s too hard to get, or too expensive. There is also the possibility that their insurance agent never brought it up. When the unthinkable happens to one of my clients, I would much rather be delivering a check from the Life Insurance company than excuses as to why I didn’t do my job.
Life Insurance is something nobody really wants to talk about, mainly because it forces them to face the fact that they will not live forever. The truth is, we will never really know how long we have to accomplish all of the things we want to do in our lifetime.
Nearly HALF of Americans today have no life insurance, mostly because they don’t understand the need for it, think it’s too hard to get, or too expensive. There is also the possibility that their insurance agent never brought it up. When the unthinkable happens to one of my clients, I would much rather be delivering a check from the Life Insurance company than excuses as to why I didn’t do my job.
Over the last 28 years as an Insurance agent, I have brought up the life insurance topic countless times, with a pretty high success rate, because most of my clients know and trust me enough to understand that I always have their best interest in mind, but that hasn’t stopped some of them from using the “I’m all set”, “I got it at work”, or “I can’t afford it” objections. The simple fact is, there are a lot of ways to find a policy to fit your needs and accomplish your goals at a price you can afford if you are ready and willing to discuss it.
Keep in mind, if something unexpected happens to you, your family will need to replace your income to pay for essential things like the mortgage or rent payment, car loans, credit card bills, college funding, and many other household expenses. We can do a Life insurance needs analysis calculation and put together several insurance options to help your family maintain the lifestyle you have always provided while keeping it affordable and within your budget. Some employers offer Life insurance as part of your benefits package, either as a stated amount or perhaps 0ne or two times your annual income. Unfortunately in most cases, you can’t take it with you when you leave or retire.
At What Age Should You Get Life Insurance?
You can get life insurance at any age. But when you’re young and just starting out, you may not think of it as a priority. There are several reasons why it makes sense to get coverage at a younger age
1. Premiums are cheaper. Your current age and overall health are the main factors in determining the cost of your premium when you apply for your policy. In most cases, rates are locked in for a certain period, or for the entire policy term and don’t change if you develop a health condition later
2. More flexibility and options. Insurers are more likely to offer coverage if you’re young because you’ll be making payments for years before the insurer has to make a payout to your family. The longer you wait, the more it costs, and the older you get, the higher the possibility of developing some sort of health condition, which could increase the cost or result in a denial of coverage.
3. Certain policies will build cash value. Permanent life insurance builds cash value, and the longer you have it, the more the cash value will grow, which can be used for an emergency or to supplement retirement if the death benefit is no longer needed.
Planning for the future is not always easy. Your Insurability and financial situation is always changing, so whatever situation you find yourself in today, it’s best to start looking at Life insurance while it is available and affordable.
