Life Insurance is something most people know they need, but don't have. Major life changes like getting married, starting a family or buying a house are usually what prompt people to start thinking about life insurance. Even when there is a need, people still tend to put off buying it. What is holding you back from getting life insurance?
1. It's too expensive. Cost is the number one reason people don't buy life insurance, but there are numerous life products that are more affordable than you might think. It is a mistake to forgo any coverage at all for the sole reason that the plan you want is too expensive. Some coverage is definitely better than NO coverage.
2. I have life insurance through work. Most employers offer group life insurance policies for their employees. The coverage can be two times your annual salary. That sounds like a lot, but in many cases it can't cover student loan debt, a mortgagee, health care, child care expenses, college education funding & normal everyday expenses. Your group coverage may end if you leave your job. It is a benefit and is NOT guaranteed.
3. I don't work outside the home. If someone stays at home to care for kids or other family members, it may take hiring someone to replace all they do.
Erie Family Life has developed a life insurance product that you can purchase in about 15 minutes if you qualify. You can buy up to $500,000 worth of coverage, and there is no medical exam, just a few medical questions. A simple phone call to Barnett Smith Insurance at 336-272-4554 can let you know if you qualify for coverage.
There are MANY options available to you when it comes to Life Insurance and the only wrong choice is to do nothing at all.