Valentine’s Day is just around the corner and you might wonder what to buy your loved one. Traditionally, it’s flowers, chocolates, or dinner in a nice restaurant. Of course, you want to recognize how important the person is in your life and celebrate your relationship.
However, the flowers wilt and the chocolates and meal disappear. They’re fleeting gifts. This year you may want to add something new and more enduring to the mix – buying life insurance for yourself.
Protect Your Loved Ones
It may seem somewhat odd to consider life insurance as a gift for someone else, but think about it. Would your passing cause them financial strife? Could they pay the mortgage, send the kids to college, and live comfortably once you’re gone?
You may think you’re too young to consider life insurance, but problems can strike at any age. Investing in your life early on makes it more affordable and it protects your loved ones for a lifetime.
Ensuring your loved ones are well cared for truly shows how much you love them. Without life insurance, they will probably struggle and may have to move. They could also miss out on planned opportunities such as sending the kids to college.
It’s Not Just For Married Couples
Life insurance isn’t just for those who’ve tied the knot. You can buy life insurance if you live with a partner you love too. Perhaps you split mortgage payments and other household expenses. Could they pay off the debt and live comfortably once you’re gone? Or would their life turn into a financial nightmare while they’re grieving?
You may also want to consider life insurance if you’re a single empty-nester who wants to assist your children or grandchildren once you’re gone. What better way to show them how much you love them than ensuring a bright future?
Valentine’s Day is a fantastic time to recognize you appreciate what your loved ones do for you. Buying life insurance cares for them once you’re gone.
The LIMRA-Life Happens study conducted by a nonprofit organization dedicated to educating Americans about life insurance discovered some interesting information. About 63 percent of people put off buying life insurance, because they think it’s expensive even though they believe it is important.
However, 80 percent of consumers overestimate the cost by as much as 1000 percent. For instance, a quarter of respondents thought a $250,000 policy over 20 years for a healthy 30-yr old would cost $1,000 annually, or more. It actually costs about $150.
Buying life insurance is simpler and less expensive than you might think. Your insurance agent can help you calculate how much money your loved ones will need to cover expenses.
If you’re considering buying life insurance to protect the ones you love, why not give us a call? Many policies are very low cost and we may be able to bundle your life insurance with your other insurance coverages for discounts, too.