Life Insurance - Will I use it?

Life Insurance

Are you worried that you will pay for term life insurance and never use it? I’ve heard this used as an argument towards not purchasing coverage many times. It seems a little unrealistic to me – don’t we all wish we didn’t use our life insurance? Funny as it may sound, the phrase actually tugs at the heart and sole of what life insurance can provide. 

Obviously, the death benefit comes to mind immediately when you think of the benefits of having life insurance. There truly isn’t really a more important reason for purchasing it than for the death benefit it provides to your beneficiaries. The positive effects of this can be profound during very troubling times. That alone to me, is reason enough for purchasing coverage even if I’m ‘concerned’ I may live past the coverage term.

The other reason may not be so obvious. It is basic peace of mind. Life insurance provides peace of mind to those who own it as well as those who benefit from it. Those who purchase it can rest assured that if something were to happen to them, a benefit would be there to help their loved ones move forward. And those that are beneficiaries of a policy know they will be financially protected, should something happen to the people they are most dependent on.

In my mind, the latter reason – peace of mind – is really the reason for purchasing insurance. Car insurance, home owner’s insurance and yes, life insurance are all insurance coverage we hope to NEVER have to use. Only one of those is certain to happen at some point though… and you would never think to be without car or home owners insurance would you? 

About the author: Seth Gowdy is the Sales Manager for Pivot Insurance and holds multiple insurance and securities licenses. He has been part of the financial services industry for nearly 20 years. In his free time he enjoys being outdoors fishing, hiking, and geocaching with his wife and two children. Seth most enjoys helping clients with Pivot’s anonymous life insurance quote process and needs calculators. You can reach Seth at 1-800-651-1953 or SGowdy@pivot.com.