5 Reasons People Don’t Purchase Life Insurance

You already know life insurance is a way to protect your loved ones’ financial security and pay off any outstanding debts after your death, so why don’t people purchase a life insurance policy? 1. “It’s probably too expensive.” Although the price of life insurance differs from person to person and usually depends on factors such as age and health, it can be cheaper than a daily latte. 2. “I don’t have kids or other dependents.” Even if you don’t have anyone who depends on you financially, aren’t there other people in your life who would be financially affected by your death? Somebody may have to pay for your funeral, and if you have any outstanding debt or loans, those could possibly become the responsibility of your loved ones. Having life insurance could help them with those expenses. 3. “I’m not the family breadwinner.” Stay-at-home parents have responsibilities and obligations that will need proper replacement if you were to unexpectedly die. For example, who will watch your children or pets, keep the home maintained for your family and provide all the meals? Life insurance can help your family’s adjustment to your death go a little more smoothly, at least financially. 4. “I’m too young.” Life insurance is usually more affordable the younger you are. And generally, the younger you are, the healthier you are. Being healthy can help lower the cost of your life insurance. 5. “I’ll get it when I need it.” The thing about life insurance is that by the time you need it, it’s too late! Procrastination is not the way to go when it comes to insuring your life.