The Importance of Life Insurance
Kentucky ranks highly in national surveys of affordability. It boasts a wealth of educational and workforce opportunities as well as some of the best livability factors in the country. However, such factors don’t ensure life will be great at all times – COVID-19 proves this.
The impact of the pandemic
The pandemic doesn’t discriminate based on age, gender, or status. Many businesses – even the very established ones like Dean & Deluca, Gold’s Gym, and JCPenny – filed for bankruptcy. It simply affects everyone’s way of life, even life itself. With Kentucky’s COVID positivity rate of 6.99%, a death toll of 4,336 people, and a total of 391,772 positive cases, we can see how life is fleeting and health is fickle regardless of what we think of our sense of security.
Insurance and emergency funds have become a huge help for many to keep their families fed and taken care of. Situations like this pandemic have emphasized the importance of having security – the safety net of life insurance can ensure that your family can stay in their home and pay for the things that you planned for. It can even replace your family income when resources are less so they can maintain their quality of life, depending on what type of life insurance you purchase.
Whether you have Permanent Life Insurance which can provide lifetime coverage or Term Life Insurance which provides protection for a certain period, it’s worth the investment not just because of the return but because of the security it provides for you and your family. We’ve enlisted a few more reasons why getting life insurance now is the smartest decision you can do amidst the pandemic.
Life Insurance is an expression of love
When deliberating whether to purchase life insurance or not, it is best to view the decision from your family’s point of view, not your own. Life insurance is a tool that protects your spouse and children from the potentially devastating financial losses that can result if you die prematurely.
The loss of a loved one is an emotional and traumatic experience for any family. But not having enough money to meet immediate and ongoing living expenses can make a very difficult situation even worse. Not only are the people you love grieving your loss, but they’ll now have added financial stresses to cope with. If you’re wondering why life insurance is important, stop to consider the potentially devastating consequences of not having coverage to financially protect the people that you love.
Life Insurance gives time and options
Too often, when an income earner dies, the family is forced to make tough, dramatic decisions.
By protecting their financial future through life insurance, you’re providing your loved ones the benefits to help pay off debts, meet housing payments and ongoing living expenses, fund college educations for your children, and more, if something unexpected should happen to you. You’re giving them a chance to adjust over time rather than having to move to a downsized home or find a new job right away.
If you are not completely certain what insurance is best for you based on your family’s needs, contact London Insurance Agency, one of Kentucky’s trusted insurance service providers. We’ll work together to determine how much coverage you need, review what products and policies are right for you, and review cost comparisons. Call us today!
