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Personal insurance plans

A huge number of Americans today are choosing to forgo life and health insurance because they think they can’t afford it. According to LIMRA’s 2013 Life Insurance Barometer Study, 85% of people say they think most people need life insurance — but only 62% have life insurance of their own.

The truth is, you really can’t afford not to get a personal life insurance policy. Personal life insurance helps protect your family and loved ones from financial hardship in the event of your death. And if you think you don’t need to seek a life insurance agent yet, think again.

Here are four reasons why you should get a personal life insurance policy now:

1. Accidents happen: You really have no way of knowing if and when an accident will happen that leads to an untimely death. Life insurance is the only way of guaranteeing that your loved ones won’t face a financial burden after your passing.

2. Lock in a low premium now: As you age, the personal life insurance premiums available to you will increase in cost. By getting a life insurance policy now, you can avoid these high premiums and use the extra money on something useful.

3. Peace of mind: This reason can’t be quantified or measured, but there’s no doubt that the peace of mind that comes with knowing your loved ones will be financially well-off and protected from uncertainty if you pass away is priceless.

4. Personal life insurance can supplement your retirement: By putting money towards life insurance savings each month, you’re also putting money toward your retirement. After retiring, your life insurance savings will become an annuity, or a sort of DIY pension plan.

Finding a personal life insurance policy that’s right for you is easy — to get started, find an insurance agent who can help you with a free insurance quote. References.

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