When you think about your assets, what comes to mind? Is it your home? Car? Investments? Or is it something a bit harder to put a price tag on? If you’re anything like approximately eighty-one percent of other Americans, you consider your family to be your most valuable asset.
You’ve made an effort to protect your material assets, but what can you do to protect your family?
To protect your home, you buy homeowners insurance. To protect your car, you buy auto insurance. And while there is no family insurance, because some things are irreplaceable, you can protect their financial future with life insurance, in the event that something happens to you.
According to a recent Edward Jones survey, less than half of Americans have a life insurance policy, and roughly one-third don’t consider it a priority when starting families.
So why do so many Americans believe that they don’t need life insurance?
“It’s too expensive.”
There are plenty of ways to keep premiums affordable – one of which is applying when you’re young and in good health, because every year you wait to enroll in life insurance, your monthly premium will likely be higher.
Another way to keep premiums low is to look into term life insurance instead of whole life. Unlike whole life, term life will only offer you benefits for a set period of time – usually ten to thirty years at a low monthly rate. With many term life policies, if you decide during that period of time that you want whole life insurance, you may be able to convert your coverage.
“I don’t have kids.”
While many people decide to enroll in life insurance once they have children, it is in no way a prerequisite. Life insurance is for anyone who has family or loved ones that would be financially impacted by their loss – whether that’s a spouse, child, partner, or even parents.
“I don’t know where to begin.”
As a valued association member, we’re here to help. We can help steer you in the right direction as to what kind of policy is the best match for you, how much coverage to apply for, and more. A Member Group Term Life plan is also available for you to consider as an option.
To learn more about the life insurance options available to you, or to receive an instant quote, visit https://nvbar.memberbenefits.com/term-life-insurance/ or contact us for assistance.