Why Buy Term Insurance Now?

People make excuses for not purchasing life insurance. And yes, maybe your finances do not allow you to afford a $250,000 universal life insurance policy, even if you are 30 years old. However, a term life insurance policy probably will fit into your budget.

Common Oaths of Insurance Procrastinators

A funeral is never a pleasant event. It is a time when family members and friends come together to say their goodbyes to a loved one.

But hopefully, the deceased had adequate life insurance. If not, the deceased needed to have enough personal savings to provide for his or her family. Unfortunately, we hear too many stories of the deceased leaving behind enormous debts for his or her family, including the cost of burial. Maybe the deceased individual believed in one the following excuses that life insurance procrastinators make:

• I have of plenty of time to buy life insurance
• I already have life insurance at work
• I cannot afford to pay for the insurance premiums
• I will buy life insurance after my yearly raise becomes effective

Buy Term Life Insurance is Your Budget is Tight

Death can be unexpected. And in our society, we usually do not expect 50 years olds and younger to die. But unfortunately, some thirty years olds have heart attacks or strokes and never regain consciousness. While the death of a thirty year old is usually shocking news, the deceased family’s grief will only be magnified if the deceased did not have adequate assets or life insurance. The deceased’s family may have to move out of their current home and live in an apartment or smaller home. Also, the spouse may not be able to afford private school or extra tutoring for the children. If the spouse was working part-time or not at all, he or she might need to find full-time employment and an affordable daycare, if there are small children in the household. When will the deceased’s family be financially secure?

Some people complain about the cost of permanent life insurance, such as whole life insurance or universal life insurance. If this is your only objection to buying life insurance outside of work, then call your local insurance agent about term life insurance, especially if you are under the age of 55. Unlike permanent life insurance, term life insurance is usually cheaper because there is no cash value build-up and coverage can expire at a later date before death occurs. The cost of term life insurance is probably more affordable than you think. And remember, with term life insurance available, there is no reason to be a life insurance procrastinator.

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