Protect Your Family Through Life's Uncertainties

If nothing else, recent news headlines have made it very clear that life changes in an instant. No matter your race, ethnicity, religious affiliation, or social status, we can all fall victim to a catastrophic event or accident. This serves as a tough reminder that life is full of uncertainties, making it very difficult to make decisions about a future that has yet to be realized, with one exception--life insurance. Having a life insurance policy in place will make sure your family will be protected financially should an unexpected death occur.

No matter what your life looks like, divorced, married, single, kids, no kids, own a home or not, someone will be affected financially, should you pass away before your time. Life insurance will alleviate this burden.

Here are some facts you need to know about the importance of having this financial protection in place.

1. Life insurance is affordable.

One of the biggest misconceptions out there is that life insurance is expensive. It is not! 

Most Americans overestimate the cost of insurance. This is especially true for millennials, as 44% of this younger generation estimates the cost to be five times the actual amount.

Life insurance quotes vary depending on things such as how much coverage you need, your age, and health and financial status. The younger and healthier you are, the cheaper it is, so why would you wait to purchase it?

For example, a healthy 30-year-old female can purchase $250,000 worth of 20 year term life insurance coverage for around $14 a month, that’s only $0.47 cents a day. A healthy 30-year-old male costs roughly $1 more at $15 a month. In contrast a 45-year female would cost roughly $27 and a 45-year old male $31.

So, if you can manage to fit your favorite streaming service and morning lattes into your monthly budget than you can afford to get some life insurance and ensure that your family can financially survive should you suddenly pass away.

Find out what your rate is, get a customized life insurance quote now.

2. Life insurance through work may not be enough.

Getting life insurance through your work, also known as group life coverage, can provide some perks. These perks include no underwriting requirements and lower costs. But most of the time, the amount of coverage you get is nowhere near the amount you need.

Not only that, but you also can’t take your policy with you if you leave your job, potentially leaving you without any coverage. Individual life insurance policies provide more flexible and affordable options to guarantee your loved ones are financially protected.

3. Even if you have no dependents – you still need life insurance.

Having life insurance in place, even if no one else is depending on your income, is very an important part of any sound financial plan. Why? Because if you die unexpectedly, you are still likely to leave behind bills, like hefty student loans, credit card balances, medical expenses and let’s not forget the cost of your funeral. These expenses could be an unnecessary burden on your parents or siblings at what would already be a very difficult time.

Another important reason to buy life insurance even without dependents is because you don’t know what the “future you” will look like. You may not have dependents today, but as your life changes, you may build a family that will need financial protection. You could also end up with health complications or become disabled, making it very difficult and expensive to get life insurance coverage at a time when you may need it the most.

So, let’s get your loved ones protected. It’s a simple and quick application. 

4. Crowdfunding sites are not a substitute for life insurance.

Anytime you see fundraisers meant to raise money for college or to help out with bills after a death in the family; it's safe to assume either of the following:
• life insurance coverage was not in place or
• there wasn't enough life insurance to cover everything.

This leaves loved ones having to rely on your network of friends and the kindness of others to help them out financially. The worst part is, it doesn’t have to be that way. It could be avoided if life insurance is in place. Life insurance is always the better option, and quite frankly, it's the responsible thing to do.

While you do have to pay premiums for a life insurance policy to stay inforce, there are no fees or taxes taken on the death benefit paid to your beneficiaries if you die. This pales in comparison to what a crowdfunding platform will take out of the money raised.

These crowdfunding fees often take out a large percentage of the total amount of the funds raised -- but that's not all. They may also charge you to host your campaign, or a credit card processing fee on the donations you receive. In addition, if you don't reach your funding goals but are allowed to keep some of the money raised, the percentage fee will be even higher.

So let’s remove the burden this can bring on your family. Get your life insurance quote and application completed online now.

The Bottom Line

If nothing else, today’s headlines reminds us that life can change overnight. That is why it is so important to make sure you are prepared for any situation that may occur.

Having a life insurance policy in place will make sure your loved-ones are protected against the financial impact caused by a sudden and unexpected death.  We invite you to visit our website learn more about specific products, get advice, and most importantly, begin the process of protecting your family.

No one knows what tomorrow brings so prepare today.

 

Our content is created for educational purposes only. This material is not intended to provide, and should not be relied on for tax, legal, or investment advice. Vantis Life encourages individuals to seek advice from their own investment or tax advisor or legal counsel.