Why is this the case?
Cost is the most frequent reason given for not having life insurance policies.
However, 80 percent of consumers misjudge the cost of term life insurance policies.
The Real Cost of Life Insurance Policies
Marvin Feldman, President and CEO of Life Happens, explains “we’ve consistently seen over the last five years that consumers think life insurance is more expensive than it really is.”
And although close to half of all Americans are without life insurance policies, more than 43 percent say they would feel a financial impact within six months if the primary wage-earner died.
However, 54 percent of Americans say it is unlikely they will purchase life insurance policies within the next 12 months.
Like many type of insurance—including disability insurance—it seems many American’s are confused about the cost, need, and facts when it comes to life insurance policies.
Today we celebrate Life Insurance Awareness Month with a round-up of six relevant posts on life insurance policies.
Life Insurance Policies: What You Need to Know
Six Reasons Why You Should Buy Life Insurance: Life insurance helps protect your family financially. Read about six ways life insurance policies can give you peace of mind knowing your loved ones will have enough money when you die.
How Much Life Insurance Do I Need: Find out what questions you should ask yourself when determining how much life coverage is right for you. Follow a step-by-step example which explains how to calculate how much life insurance you would need.
Life Insurance Policy-Which Plan Is Right For You: There are several types of life insurance policies but which one is right for you and your family’s needs? Life insurance policies aren’t always easy to understand as it can be hard to make sense of the different plans and terms. Explore the pros and cons of four types of life coverage plans to determine which one might be suitable for you.
The True Cost Of Life Insurance: One of the most common reasons people say they don’t have life insurance is cost. However, life insurance policies may be less expensive than you think. Understand more about the true cost of life insurance policies.
Why Life Insurance is No Substitute for Disability Insurance: Life insurance and disability insurance are both important but offer different coverages. Learn why one is not a substitute for another as well as how you can reduce costs for both types of coverage.
Anthony Anderson, the 2015 spokesperson for Life Insurance Awareness Month: Anthony Anderson is well know for his hit TV show Blackish, as well as the host of Eating America. He is also the 2015 national spokesperson for Life Insurance Awareness Month. Hear Anthony’s personal story of how he and his family were directly affected by life insurance.
Do You Need Life Insurance
It’s important to educate yourself and ask questions before buying life insurance policies. This is where an insurance agent can be a valuable resource. They can help you understand the language in life insurance policies, explain the specific terms and conditions, and guide your decision around which coverage is right for you.