Why do I need insurance anyway?

The main reason for buying life insurance is to protect families from devasting financial loss should one pass away unexpectedly.  However, life insurance isn’t just for those who are married with children.  Younger individuals should consider a life insurance policy to help their family avoid the burden of college or other acquired debt.  On the other end of the spectrum, individuals who are in their golden years may want a life insurance policy to help their loved ones pay for funeral and burial expenses.  Let’s not forget businesses.  Owners should have both key person and personal life insurance to protect their company and their family.  Co-owners should have buy-sell agreements that include life insurance.

One of the most common reasons someone delays purchasing life insurance is that they feel young and healthy and don’t think they need it yet. However, unexpected health issues can arise at any time, and once a serious illness or health condition hits, it can be much more difficult and expensive to get coverage. In some cases, individuals may even be denied coverage altogether, which means they’ll be left without any financial protection. By purchasing life insurance while still young and healthy, lower premiums can be locked in and ensure that coverage is in place before unforeseen health issues arise.

Life is unpredictable, both in good ways and bad ways, and people’s lives and responsibilities will change over time. Waiting for the “right time” to purchase life insurance can result in leaving loved ones in a financially difficult situation.

It’s better to have it and not need it, than to need it and not have it.         

No matter the age or stage of life, life insurance can be a valuable protection tool and Wholehan Marketing is standing ready to help consumers at every stage of life find the financial protection they need for their families and businesses.

Jody Horetski

Life Insurance Consultant