Skip to main content

Protecting What Matters Most: Your Loved Ones


It’s Insure Your Love Month. And what does that mean? Everyone wants the best for their family, whether that’s a spouse, children, aging parents, really anyone you need to take care of. And the numbers back that up 81% of Americans believe their family is their most valuable asset, according to the new “Protecting What Matters Most Study,” by Edward Jones and Life Happens.
And that’s where life insurance comes in. Every day, you work hard at your job and at home to take care of your loved ones. By having life insurance, it means if something were to happen to you, your loved ones would be OK financially.
But so many people don’t seem to be getting that message. Only four in 10 are protecting their family with an individual life insurance policy. In fact, a third of Americans say that life insurance is low or is not a priority when starting a family, according to this same study.
Protect what you value most
That’s why Life Happens conducts the Insure Your Love campaign every year. Our goal is to remind people of what they value most: their loved ones and to remind them to protect them financially with life insurance.
I’m convinced we all want to do the right thing. And often that just comes down to better educate Americans on what life insurance can do. For starters, life insurance can replace or pay for:
  • Lost income
  • funeral costs
  • education costs
  • retirement income
  • estate considerations
  • estate taxes
  • charitable donations
Another little known fact about life insurance is how affordable it is. In fact, most people overestimate how much it costs by three times, and Millennials overestimate its cost by five times, although they usually pay the least due to their age and health. (2018 Insurance Barometer Study, by Life Happens and LIMRA).
For example, a healthy 30-year-old can get a $250,000, 20-year level term life insurance policy for about $13 a month, or as I like to consider it: three Starbucks a month.  Although I enjoy my caffeine fix as much as the next sleep-deprived mom, I gladly make my family a priority over a grande cappuccino.
So protecting your loved ones financially for the “what ifs” is both doable and affordable. Speak with an insurance agent or advisor, who can walk you through your options that fit within your budget. And if you don’t have one, you can find one with our Agent Locator.

Comments

Post a Comment

Popular posts from this blog

10 Things You Didn’t Know About Life Insurance

Life insurance blah blah blah. Is that what you hear when someone mentions it as part of your new job’s employee benefits round-up or when you see something about it on TV or social media?  Not to worry: we’ve got the low-down on what you need to know. And it’s really not as overwhelming (or underwhelming) as you might think. 1. It’s part of a sound financial plan.  You know about savings, you know about retirement. You might know a bit about investments and long-term financial planning for your health and happiness. And  life insurance  helps with planning for your loved ones’ long-term health and happiness, especially those who depend on your income, in case something were to happen to you. 2. There are different kinds of life insurance.  In addition to employment-based life insurance (which typically only lasts as long as your employment at your job), there’s term and permanent life insurance. Term life insurance:...
Post a Comment
Read more

9 Reasons Why Stay-at-Home Parents Need Life Insurance

You’re probably already aware that a parent with a job outside the house most likely needs life insurance to protect their loved ones in case something were to happen. But it’s not just breadwinners who need coverage—stay-at-home parents do, too. Here are nine reasons why. 1. To replace the value of their labor.  Stay-at-home parents are caretakers, tutors, cooks, housekeepers, chauffeurs, and so much more 365 days a year. And all that work comes with a price tag:  Salary.com reports  that stay-at-home-parents contribute the equivalent of a $162,581 annual salary to their households. If the unthinkable were to happen, a surviving partner would be on the hook for a slew of new expenses that the stay-at-home parent previously shouldered. Term life insurance is generally a quick and affordable way to get a substantial amount of coverage like this for a specific period of time, such as 10 or 20 years—often until you pay off your...
Post a Comment
Read more

Insurance M&A: The future is bright for continued investment

There are numerous attractive targets and opportunities for insurance industry investors to create value. Three observations on the current market can help guide them. Over the past decade, insurance has been a steady, core component of transactions in the financial services sector. Aside from a slight dip in 2017, both the number and total value of insurance deals in the United States have steadily gone up—thanks in large part to the soaring number of insurtechs disrupting the value chain. However, with an economic slowdown likely approaching, many private equity firms and principal investors are worried about a corresponding slowdown in investment. Consolidations have been rampant in some parts of the value chain—for instance, among claims processing companies, and in insurance distribution channels. And in multiple areas, such as in front-end software, collision repair, and life insurance and annuities application intake, only duopolies or oligopo...
Post a Comment
Read more