Your Due Life Insurance plan offers affordable, reliable term coverage. Starting at just $5/month, there are no hidden fees. Just a simple, straightforward life insurance plan for the average person like me and you.
What’s the main reason why you should purchase life insurance? Because life insurance provides your family financial confidence and stability in the event of your death. If you have more life insurance, the more your family will be able to benefit from it. As an example, if your work offers $20,000 in life insurance, that certainly isn’t much. After all, the average cost of a funeral is between $7,000 and $12,000. So, that might cover funeral expenses and maybe a couple of mortgage payments.
However, if with a larger coverage amount, you and your loved ones can experience the following advantages;
Different policies can provide you with additional benefits, in addition to your coverage amount, such as;
Generally speaking, life insurance is a sound investment. However, it’s important to consider its drawbacks before committing to a policy.
When your mortgage is paid off and your kids are all grown and out of the house, you’ll need less insurance. When this happens, you can adapt your plan by “laddering,” or simply leave it the same. There’s no right or wrong answer. You have the power to choose whatever’s right for you.
In 2020, 54% of people in the United States were covered by some type of life insurance. As for the other 46%, they may not be all that familiar with life insurance. Not that you can blame them.
Between the industry jargon and misconception that life insurance is too expensive, they may avoid putting this off.
However, life insurance shouldn’t be overwhelming or avoided. After all, the main purpose of life insurance is quite simple. If something were to happen to you, your family can maintain their current lifestyle. Life insurance also guarantees long-lasting financial security. And, most importantly, it gives everyone in your household peace of mind.
But, that’s just skimming the surface. In the following guide, we’ll explain more in-depth what life insurance is, how it works, and why you need it.
You don’t need to be an expert regarding life insurance to get started. As a life insurance policyholder, you’re able to have peace of mind while you are alive. Moreover, your family will be financially supported in the case of your death. As such, if there are people who depend on you financially for expenses such as everyday living and college tuition, life insurance makes a lot of sense. And, it can also provide you with a retirement income.
Life insurance plays an important role in the financial, emotional, and personal stability of you and your family. The sooner you purchase a policy, the more options and flexibility you’ll have, as well as the financial stability you’re relying on for in the future.
At the same time, because the insurance industry can be confusing, you should at least be aware of life insurance basics. And, that’s exactly what you’ll find in this guide. Throughout it, we’ll discuss the advantages, disadvantages, and various types. You can then use this information to ensure that you have an affordable policy that meets your unique needs.