Finances are top of mind for most Americans these days. But did you know that spending a little money investing in things like life insurance can grant you the ultimate peace of mind with your finances? Here’s how you can use life insurance as a financial asset.
There’s confusion around life insurance policies.
Life Happens reports that less than 50% of millennials own a life insurance policy. Why? “42% say it’s too expensive, but 46% overestimate the true cost by five times or more.” They also report that the number of millennials with life insurance is lower than Gen X, because most millennials are guessing or trusting their gut when it comes to the true cost of a policy.
Life insurance is more affordable than you think.
Many policyholders are surprised to find out how affordable life insurance can be. In fact, these 11 everyday things, like movie tickets and streaming services, may cost more than a policy. Because whole life and term life policies can be selected for your specific needs, a local, independent agent can help you get coverage that fits your life and your wallet.
Think of it like other insurance policies.
You wouldn’t live in a home without home insurance. You wouldn’t drive a vehicle without auto insurance. Life insurance should be treated the same way. Not only is the risk too great not to have these policies, but the reassurance they provide is also invaluable. They’re the blanket of protection that can help you feel safe and covered.
Life insurance can be viewed as a financial asset.
Life insurance combines security for your family with financial flexibility. It guarantees a death benefit to cover critical expenses, replace income, or protect your family’s future goals. Beyond that, certain types of life insurance, like whole life, build cash value over time, growing tax-deferred and serving as an accessible financial resource during your lifetime. Whether as a safeguard or a tool for long-term planning, life insurance strengthens your financial foundation.
Now that we’ve shown you how life insurance can be a financial asset, are you ready to get a policy? Talk to a local, independent agent to get started today.
This content was developed for general informational purposes only. While we strive to keep the information relevant and up to date, we make no guarantees or warranties regarding the completeness, accuracy, or reliability of the information, products, services, or graphics contained within the blog. The blog content is not intended to serve as professional or expert advice for your insurance needs. Contact your local, independent insurance agent for coverage advice and policy services.
