Did you know that September is Life Insurance Awareness Month? With that in mind, we’re gonna lay some cold hard facts on you about life insurance.
- 7 in 10 American households with children under 18 would be in jeopardy if the primary bread-winner died.
- 30% of U.S. households (35 million) have no life insurance protection at all.
- Households with individual life insurance is at a 50-year low.
Life insurance is not necessarily the funnest topic to discuss, but consider the repercussions if you don’t. Your family will be left with costly funeral bills, not to mention the loss of income they will face if their main source of income is now gone. What will they do if there is a mortgage payment, car payment, medical bills, or college tuition to pay off? Many households rely on group life insurance to provide financial protection. However, you may lose that life insurance if you lose your job. With jobs still scarce in the unstable economy that is a very risky gamble.
So, in the spirit of Life Insurance Awareness Month, sit down with an insurance professional and discuss your options. It might surprise you how little it will cost you for the peace of mind you get when you purchase a life insurance policy.