While most people need this coverage, many don't purchase it. We take a look at why.
Being a responsible adult means that you make your bed every morning, pay bills on time, and ensure that your loved ones are financially safeguarded if you unexpectedly leave them behind. For the latter, this doesn't mean that you need a savings account that rivals the 1 percent. Life insurance coverage offers protection for your family's future!
Not everyone needs life insurance. If you don't have dependents, there is little reason to purchase a policy that is designed to protect dependents once you pass. However, many Americans, who need this insurance, are lacking this protection! Take a look at why.
- Cost
Life insurance has the misconception that it's too expensive to be affordable for every family. The rate is determined by your age, your health, if you smoke, the type of life insurance, the extent of coverage. Talk to your insurance agent to find the best rate for you - it is possible to get coverage within your budget.
- Youth
Millennials are notorious for thinking about future circumstances. While they may be healthy and young now, 5 to 30 years down the road, life insurance protection is incredibly valuable.
- Current Assets
What form are those assets in at the moment? If they're liquid, your beneficiaries can convert them into cash should the need arise. If they are mostly non-liquid, such as real estate, your loved ones will be won't have instant access to funds. Life insurance allows your loved ones to hold onto those non-liquid assets while providing them cash to pay off debts that require immediate attention.
- Unpleasantness
Most of us don't like thinking about death (who would've known?). Almost 30 percent of people gave that as a reason for not buying life insurance. If your family is left financially strained after your passing, it will be severely unpleasant for them!
Finding the right
life insurance for you at the right cost is simplified by
talking to the professionals at Little & Sons Insurance Services! We serve Banning, Beaumont, Calimesa, and surrounding California areas and will work with you to find the coverage you deserve!
