By: Andrea Moyer
September is Life Insurance Awareness month and I’m excited to bring this into the spotlight for a number of reasons. Life insurance is not usually a comfortable subject to broach, but there are so many reasons why we need to go there. My hope is that by the end of this segment, I will have got you thinking about life insurance and why you need it. You will be ready to contact your insurance agent and ask them about a life insurance policy. Are you ready? Great! Let’s do this!
OK, so who needs life insurance? While it’s something everyone should consider, it’s particularly important for young people. Young adults just starting out should consider a life insurance policy. Why? You’re young and you’re healthy, so why do you need life insurance? You can put this off until you’re a bit older, right? Wrong. Now is the time, while you are young and while you are healthy, to talk to your insurance agent about a life insurance policy. First of all, it’s affordable and cheaper for you to purchase when you’re young and healthy. Secondly, it’s time! You do not want to wait until you’re older because then it is often too late to get the coverage you need.
You might say, “I have life insurance through work and don’t need another policy.” This is also great…until you leave. The coverage doesn’t go with you and not all companies offer life insurance. What happens when you retire? Are you self-employed? You need to consider a life insurance policy.
Who else needs life insurance? Anyone with debts, a mortgage and kids who are going to college. D.I.M.E. is a helpful acronym to remember: Death, Income, Mortgage and Education – these are the four main areas that life insurance covers.
Ask yourself this important question: if I were to die today, would my family be taken care of? Would my spouse or partner be able to compensate for the lost income? Would there be enough money to take care of my children? Would the mortgage be paid for?
You might say, “But I’m young and single!” Most people have family members who would be responsible for the costs of death and any outstanding debts they might have, such as student loans, in the event of their demise. You need to consider life insurance to cover those things!
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 – now – in your time of life and what will fit your needs and budget.
Now is the time - because life happens!