You work hard every day to provide for your family and your paycheck is likely put toward a long list of financial obligations, from paying the rent or mortgage to covering childcare, groceries and other monthly bills.
Since your earning power plays an important role in your family’s financial well being, the question arises, what would happen if you were no longer here to take care of them? This is where life insurance can help. Having in place financial support they can count on during a difficult time, your loved ones can stress less about paying the bills and focus more on supporting each other.
So, when is the best time to buy life insurance? For most of us, the answer is as soon as possible. Remember, you’ll never be younger or healthier than you are right now, and since coverage options and rates are often based on your age and health status, you can typically get the protection you’re looking for at the lowest cost.
It’s also important to keep in mind that as your life changes, your life insurance needs can change too. Common events that may trigger a need for life insurance or for you to reassess your current coverage include:
While thinking about not being here for your family is difficult, the idea of them facing financial difficulties in your absence is likely even harder. By making life insurance part of your plan today, you help bring more financial security to your loved ones’ tomorrow.
Curious how much life insurance coverage you may need? Use our calculator to get a quote in minutes.
1 2023 Insurance Barometer Study, LIMRA and Life Happens
