What is life insurance? Agents also get a lot of questions about the cost of life insurance, and it can… Read More
What is life insurance?
Agents also get a lot of questions about the cost of life insurance, and it can be helpful to look at cost in two different ways – the cost of having it, and the cost of not having it.
The cost of having life insurance — The cost of life insurance varies, based on factors like the type of life insurance you purchase, the amount of life insurance coverage you want, your health and your age. The younger you are, the more affordable it typically is. It will cost you less today than it will tomorrow. That doesn’t mean it becomes unaffordable as time goes on though, and most people think life insurance is more expensive than it actually is. Sitting down with an agent to talk through your budget and your goals can help you find the protection that makes the most sense for you.
The cost of not having life insurance — Take a moment and think about what you provide for your family now. Do you provide income they need for the mortgage and other expenses? Do you contribute to their future savings? Do you help with child care? Cooking? Shopping? Home maintenance? Now imagine if you weren’t here. What would your family’s life be like without you in it? How would they be affected financially? What would the cost to their future be without life insurance? That’s the cost of not having it.
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