Five Alive: Top 5 Logic for Why You Need Life Insurance

Since September is "Life Insurance Awareness" month, I am taking this opportunity to remind folks why life insurance can be life changing.  My friend, here are the top 5 reasons to have Life Insurance.  Life insurance:
1.  Replaces lost income – Serves to replace lost income so that surviving family members can continue to pay for life’s necessities.
2.  Offers a fresh start - Loved ones can start with a clean slate.  Life insurance can help pay off credit card bills, outstanding loans and even the mortgage.
3.  Gives time and flexibility – Loved ones have an opportunity to use the funds to pay for the funeral and other final expenses and work through their grief without added financial burden.   Provides a surviving spouse the flexibility to take some time away from work.
4.  Creates opportunities and money for the future – Provides a way to support kids’ college education or retirement needs for a surviving spouse.   
5.  Bestows a LEGACY- Presents parents the opportunity to furnish future generations with the legacy of long-term financial security.

A few facts about life insurance (from LIMRA’s 2010 Life Insurance Ownership Study):

­        -  30% of US households (35 million) have no life insurance protection at all (OMG!)

­        -  Half of U.S. households (58 million) say they need more life insurance.

­        -  About 11 million U.S. households have no life insurance, even though they have children under age 18.

The slow U.S. economy has increased the pressure.

­        -  Many households are vulnerable if their primary wage-earner died because they have declined life insurance.

­        -  Among households with children < 18, there are 4 in 10 that say they would immediately have trouble meeting day-to-day expenses. 

­        -  Another 3 in 10 would have trouble keeping up with expenses after several months.

That’s why life insurance can step in to help.  Do YOU have the protection your family needs?  Leave a legacy.

If you want to learn more, please call or e-mail me at 512.686.2904 or csimpson@farmersagent.com.