What’s holding you back from getting life insurance? Are you like the majority of Americans who don't have it, but say that they know they need it? Perhaps your reason is listed below:
It’s too expensive Cost is the number one reason people don't have life insurance. Consumers tend to overestimate the price of life insurance. For instance, when asked how much a $250,000 term life insurance policy would be for a healthy 30-year-old, the median estimate was $500 annually—more than three times the actual cost. Life insurance is probably more affordable than you think—and there are lots of ways to bring the price into your comfort zone.
I have a health condition The good news is that having a health condition doesn't automatically disqualify you from getting life insurance. If you overcame a serious condition in the past or if you are managing a condition with the help of a medical professional, you can still be covered.
I don’t have any kids There are many reasons people with no children still need life insurance. Just a few include providing for a financially dependent spouse or another family member, having the money to pay for a funeral or being able to pay off a loan that has a cosigner. Life insurance can also help you leave a gift to a religious, educational or charitable organization near and dear to your heart.
When you purchase life insurance, consider adding a Guaranteed Insurability Option rider which lets you increase your protection in the future, when you may have children or other reasons to increase coverage. By purchasing the Guaranteed Insurability Option rider with your initial Erie Family Life policy, you’ll be able to increase your life insurance coverage over time without having to answer medical underwriting questions.
I don’t work outside of the home If you stay home to care for kids or other family members, it may take hiring someone to replace all that you do. That could be pricey, so definitely consider buying life insurance as a way to cover those additional expenses.
I’m not sure what I need Most people don’t, but your agent is here to help you. Erie Family Life offers options like term insurance that’s designed to last for a specific period of time and permanent plans designed to last a lifetime. Your agent can recommend one that works with your life and budget. You can also get an idea of how much life insurance you need by using our handy life insurance calculator.
I don’t have the time Life is busy, which is why Erie Family Life offers e-signature on life insurance policies to make the process easy and convenient. You can also consider ERIE LifeSense®, which can provide up to $90,000 worth of coverage in about 15 minutes. There are no doctor's visits or complicated forms—just a simple application with only a few medical questions.
Make a quick phone call to one of our offices – Perkasie (215)257-9171 or Harleysville (215)723-9805 – and get a free needs analysis. We’ll help you decide what coverage is right for you and what will fit your needs and budget – and your business.