If Life Insurance Isn't Expensive, Why Don’t I Own It?

Enjoying Retirement

Why is life insurance so expensive? Oddly enough, according to LIMRA this is what 86 percent of consumers believe. The reality is, in today’s market, there is such a wide variety of life insurance available that there is a product that will fit everyone’s needs.

Less than half of Americans own life insurance. This is a staggering number if you think about it. Some of the main reasons is that other financial priorities compete with life insurance. One of the major concerns for everyone is having enough money for a comfortable retirement. But what if your spouse passes away? That would immediately cut your savings for retirement in half. Having a life insurance policy in place would help to insure that comfortable retirement.

It seems that more and more people are increasing their debt. Middle income consumers are more worried about this than they are at saving money for retirement. But the point becomes mute if a spouse passes away because without life insurance, now the surviving spouse is burdened with that debt alone.

It’s impossible to turn on the news these days without seeing some loss of life and you almost feel it’s better not to watch it to maintain a healthy attitude towards life. But when tomorrow comes and you turn the television on, it’s right there again. I think over time we become numb to it, until it hits close to home. When someone close we know passes away, that’s when we start to take inventory on our own lives.

So can you put a price on peace of mind? The answer is yes. With today’s life insurance products there has never been a more affordable time to put a plan in place for the unforeseen curve balls that life throws at us. When you start to weigh the options for your family should you pass, life insurance no longer seems that expensive anymore.

About the author: Mark Yurkovic has been in the life insurance business for over 12 years, and holds CLTC, LUTCF, and CES designations. He enjoys building remote control boats, and playing instruments including the piano, guitar, banjo, and mandolin. Mark would love to discuss life insurance options and work towards finding the best policy fit for your family. You can contact Mark at 1-800-651-1953 or MYurkovic@Pivot.com