Life insurance is a big deal and can truly be a life saver (no pun intended). Life insurance is a great thing to have to make sure that your family and loved ones are taken care of after you’re gone. So why doesn’t everyone have it? Probably because people don’t realize how important it is or they don’t think they need it. We found a list of the top 7 groups who may need life insurance the most and we thought it would be a good idea to share it with you!
- Single parents. Single parents often go uninsured because they think that buying life insurance requires a big output of the two things they have in short supply- time and money.
- Parents who both work. When both parents work. the parent making less money often discounts his or her contribution to the family.
- Stay-at-home parents. Research shows that a stay-at-home parent contributes $112,962 annually in the form of child care, cleaning, home maintenance, transportation, cooking and more to the family’s bottom line.
- Homeowners. If a person dies and there’s no insurance to pay off the mortgage, the surviving family members may be forced to move.
- Business owners. New business owners often forgo life insurance because they think they don’t have enough money available.
- People with a history of minor health issues. Many people confuse life insurance with health insurance, and think they won’t be eligible if they have high blood pressure or high cholesterol.
- People whose employer provides group life insurance. This group often has a false sense of security. While they have coverage, it often isn’t enough. Another downside is that coverage is lost if they leave their employer.
For more information on this topic or to discuss your insurance needs, please contact us at 888.304.6678 or visit our virtual insurance office.
We found this list in the November 2013 issue of InsuranceNewsNet Magazine.