Our survey of over 70 people concerning each person’s one- or two-word answer to the question, “What is life insurance?” proves an important point: What people think life insurance is… versus what life insurance really is. Hint… look at the image. How to buy life insurance.
Life insurance is, indeed, many things. But it is one thing in particular.
It is financial security for your loved ones, in the aftermath of your passing. It is the economic safety that pays a mortgage, so your family does not lose their house. It is savings for your children’s education. It is cash that puts food on the table and saves your wife or husband – and your sons or daughters – from poverty.
If you and your family already live paycheck to paycheck, imagine how much worse things would be without your income.
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There are a lot of reasons to purchase life insurance, but if you live paycheck to paycheck, buying life insurance can be a major decision. Some people in that situation think, why buy life insurance, there is no need to have coverage.
If you are a single, and you have no financial obligations, you may very well decide not to buy life insurance.
Still, consider the following: If you live paycheck to paycheck, and if your family relies on your income to survive, then your refusal to purchase life insurance will leave your loved ones in a state of economic shock.
Think of how your family will struggle to stay financially afloat – picture how bills will quickly accumulate, if you do not have coverage in place – and how your mortgage, credit cards and car payments will leave your loved ones poor and hungry.
Life insurance is their economic protection.
Life insurance is a necessity.
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