How important is life insurance anyways?

While it can be a bit of a tough pill to swallow to make all of those life insurance payments on a month by month basis, understanding the entire time that you’re probably never going to be able to enjoy the benefits, knowing that your family is 100% protected should something happen is the kind of peace of mind that wins out every single time.

There are a tremendous amount of people out there right now wondering if life insurance is important right now (especially with so many other monetary demands and financial obligations stacking up on an almost daily basis), but to go without life insurance from is to basically play Russian roulette with your family’s future.

This is not the kind of position you want to put your loved ones in here at this is not the kind of position that they deserve to be put in.

Here are just some of the main reasons people are ignoring life insurance policies today, and why they just aren’t valid answers if you’re serious about providing for your family even after you’re gone.

“I just can’t afford it anymore”

People have been concerned about the price of life insurance ever since of the ancient Romans first established in this kind of policy, and it’s certainly an objection that is not without real reason.

The world we live in today is far different from the world that we live didn’t even just a decade ago, with the global economy diving headfirst into the tank – and with no real light at the end of the tunnel to speak of. Sure, our leadership continues to tell us that things are going to get better – that things are getting better right now – but for the everyday citizen we are just not seeing that kind of transformation.

To add on top of all of our other monthly financial obligations another investment or expense (a financial obligation that we will never see the benefit of) seems like the height of lunacy.

However, that kind of mindset is purely short-term thinking at its greatest – the kind of short-term thinking that has gotten most of us into our greatest trouble throughout our lives.

Taking a long-term approach to understanding what life insurance is, what kinds of major benefits it provides, and how amazingly affordable it can be when done correctly will allow you to better understand that this objection just doesn’t hold any water anymore.

“I don’t really need coverage”

Those of us that are independently wealthy (or those that have no real dependence right now) may be under the impression that they simply don’t need the kind of coverage that life insurance provides.

However, this is another prime example of the human race looking at things through a “shortsighted window”, not really understanding that what’s true today may or may not be true tomorrow.

You may fall in love with the perfect mate tomorrow, find that they already have children that you are absolutely crazy about, and never really think to get yourself a life insurance policy. Should the worst happen, your shortsighted thinking would absolutely decimate the family – and for no real reason whatsoever.

On the flip side, if you are 100% dead set against starting a family and should not have any dependents at any point in time, you still might want to invest in an insurance policy that will cover all of your funeral costs. If you decide to forgo this kind of insurance you’ll be putting that multi-thousand dollar bill squarely on the shoulders of those closest to you – asking them to take care of a responsibility that was yours and yours alone.

“I think I already have life insurance through my employer”

This is a dangerous and slippery slope to be on, especially if you’re unsure were unaware of the specific life insurance you have.

While there are certainly many employers out there that provide some kind of insurance (and a whole host of employers out there offering life insurance in specific), you’d be shocked – and probably appalled – to learn that the majority of those employers are named the benefactor for your life insurance policy.

So while you believe yourself to be 100% protected (and by default, your family to be 100% protected) in the event of a worst-case scenario, nothing could be further from the truth. Your family will be put in a very tight spot while your employer gets to reap the benefits of your untimely passing – all because you decided not to investigate the situation fully.

This happens far more than you would think, and is one of the biggest reasons that you need to fully understand your specific insurance policy – or seek one out all on your own.

Obviously, finding the right insurance can be a bit of a sticky situation – but it doesn’t have to be if you pay attention to the information above and worked with reliable and reputable insurance agencies along the way.

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