You Can Afford Life Insurance on a Limited Family Budget
You Can Afford Term Life Insurance on a Limited Family Budget
When money is tight, life insurance seems to be one of those items that get pushed aside. In fact, it's oftentimes considered to be more of a luxury than a staple item and something we can put off until later. Sometimes, though, later never comes. Why invest in a policy when your limited funds need to be spent on necessities such as food, shelter, and/or utilities?
Admittedly, life insurance isn't a tangible possession like a car is. You can't touch it or drive it, and you don't perceive it to be an item that you need now. However, if something happens to you, that car can only take your family so far…literally. What will your family do if they lost you, the family provider? If you're part of a two-income family, what would they do if their income is cut in half or more?
The truth is, you can't afford not to have life insurance. For a family already operating on a tight budget, consider what would happen if they were forced to operate on a tighter budget or try to pay bills with no income at all. How would they pay for those necessities, like food, shelter, and/or utilities? Your family's bills don't stop just because their income has especially due to an unexpected loss.
Squeezing one more payment in an already-tight budget may seem impossible, but there are affordable life insurance policies that you can purchase. You don't have to buy a policy with a large face amount. The face amount is the payout amount based on your insurance premium. Policies are available for every budget. Within the framework of our website you can find our "Coverage on a Budget" tool. Just by letting it know what amount you can afford, and this tool searches for available policies, carriers, and premium amounts that fit your budget.
Fortunately, the rates for term life insurance have been decreasing over the past few years. For example, a 35-year-old male living in North Carolina can purchase a $510,000 life insurance policy for a thirty-year term for $40 a month. But if he can't afford this $40, this same man can buy a ten-year-term $806,000 policy for $20 a month. As you can see, life insurance policies are affordable and beat the alternative.
Do you need to purchase a life insurance policy on a limited budget? You can easily use the quoting tool to obtain your free term life insurance quote.
About the author: Teri Costen has been in the life insurance business for over 20 years. She is a mother of three who enjoys working out, taking aerobic kickboxing classes, and making stained glass. Teri believes that finding the right life insurance policy helps protect your family and loved ones. You can contact Teri at 1-800-651-1953 or TCosten@Pivot.com.
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