I’ll Get Around to It and Other Excuses for Not Getting Life Insurance
January 19, 2024
In a world where budgets are often stretched thin, life insurance can sometimes be viewed as an expense that can be postponed. Yet, what if this perceived luxury is, in fact, a necessity? Even when individuals believe they do not need it due to their age, health, or lack of dependents, the ramifications of being uninsured can be profound. It's not just about safeguarding one's own future; it's about protecting those left behind. This article unveils the importance of life insurance, even when it seems unnecessary.
"I Can't Afford Life Insurance Right Now"
There's a misconception that life policies are expensive. Truthfully, there are plenty of affordable options.
In the long run, skipping life insurance may be more costly. Without benefits, the family must cover funeral costs, potentially putting them in debt. The loss of income can also put survivors in a tough spot.
"I'm Young and Healthy — I Can Wait"
Many insurers require a medical examination to gauge risk before insuring customers. Younger customers pose fewer risks, as do people who live healthy lifestyles. Individuals who are young, in good health, and don't have dangerous hobbies can get budget-friendly premiums.
Additionally, being young and fit doesn't mean you don't need to make arrangements for dependents. Accidents happen, and unexpected passing can be particularly hard on those left behind.
"I'll Get Around to It Eventually"
When it comes to financial planning, the earlier you can start, the better. Early planning allows you to take full advantage of your options.
Waiting too long can also cause the opportunity to slip through your fingers. If you develop a chronic illness before you apply for life insurance, you may end up with a high premium or get denied altogether.
"I Have Coverage Through My Employer"
Employer-provided insurance is helpful, but it only lasts as long as you're at the job. Additionally, you can only choose from the limited options, which may not meet your unique needs. Supplemental coverage allows you to customize.
"I Don't Have Dependents or a Family"
For many, life policies are a way to provide for spouses and children. But what if you don't have dependents who rely on you?
Insurance can still offer benefits. If you have debt, the payout can cover it, saving those close to you from harassment by bill collectors. Additionally, your loved ones making funeral arrangements won't have to stress about money during a time of grief.
"I'm Waiting for the Right Time"
Unfortunately, there's rarely a "good" time to talk about something as sensitive as life insurance. Instead of waiting for a moment that may never come, be proactive. Securing coverage can give you peace of mind, allowing you to enjoy the present instead of worrying about the future.
It may be helpful to talk to an agent about the topic. These professionals understand the subject's delicacy and have insight into the industry. As a result, they can recommend options respectfully and knowledgeably.
Time for Action: Buy Life Insurance Now
As difficult as it can be to think about, life insurance is necessary to provide financial security for loved ones. When you take this step, you're putting them first. Don't procrastinate on this essential task. Instead, contact us today to learn more.
About 1891 Financial Life
At 1891 Financial Life, we don’t just sell policies, we offer possibilities. We pride ourselves on giving back to the communities that we serve by providing quality and comprehensive insurance solutions. We are a not-for-profit life insurance Society, which means the sales from these financial service products help fund member benefits along with social, educational, and volunteer programs designed to respond to community needs. In 2023, 1891 Financial Life was listed by Forbes as one of "The World's Best Life Insurance Companies."
Our portfolio is extensive, ranging from various life insurance policies to our annuities to support your financial needs no matter what stage of life you’re in.