At least one of three Americans plan to buy life insurance in the coming months. Insurance research organization LIMRA conducted a study that says 36% of Americans now think they’ll be buying life insurance in the next 12 months. While there’s no telling how many will really follow through, the fact that it’s on so many people’s radar is a step in the right direction in the minds of insurance professionals.
Unfortunately, many stories have emerged from the COVID-19 crisis of otherwise healthy, relatively young Americans who were put on ventilators or, worse yet, succumbed to illness during the pandemic. And the reality is that no one is immune to the freak accidents we read about in the news more often than we’d like.
That’s why you can’t assume that you’re too young to buy life insurance or that you don’t need it because you never get sick. As we’ve learned the hard way, life really can change in an instant, and having a policy is a good way to help ensure that your loved ones don’t struggle if something were to happen to you.
Generally, you need life insurance if other people depend on your income, or if you have debt that will carry on after your death. After all, you don’t want to leave your loved ones without money to live on… or on the hook for your credit card debt.
The sooner you get coverage, the sooner you’ll get peace of mind that your family is protected when they would need it the most. It’s important to consider the type of life insurance that best suits your needs and to compare the costs of various options. At Ziff Agency, we are independent brokers and can review a wider variety of products and options on your behalf.
(Source: KenoshaNews.com)