The Life Insurance Dilemma

 

A very recent Consumer Reports article (March 30th, 2018) from author Penelope Wang is very eye-opening to say the least. The bottom line is simply that Americans are going with too little or no life insurance coverage at all, which can be a big problem. In fact, the amount of the American people with life insurance coverage has decreased in 32 years, from 62 percent being covered in 1984, to only 44 percent being covered in 2016, according to LIMRA, an industry association of more than 850 financial services companies.

A natural question for anyone would be “how come”? Well, the data highlights that Americans are putting a higher priority of their income, towards household expenses, such as the weekly grocery run to “Trader Joes” or dealing with increasing rent prices across the country. Now the real kicker. People today are living longer than those in the not too distant past, an example being the average affluent man who is expected to live up to 89 years old in 2010, up from 83 years old in 1980.

Often times, many people will say that they already have life insurance coverage (through work), but what happens if that person changes jobs? Another point is that the coverage provided via an employer is often limited to maybe one or two times a person’s salary. Is that enough for your loved one’s or your family to cover burial expenses and debts left over? Will this allow your loved one’s enough to be comfortable and not scrambling to find more money? Food for thought.

This is why we recommend sitting down with us and letting us review your current life coverage (if you have any) and seeing if we can ensure you have the right amount of coverage you will need, based on your individual circumstance, as we are all different. Life is precious and as one of our agent’s recently experienced with the loss of his college-aged fellow graduate and friend, we never know what tomorrow may hold. Don’t be one of the 56% of American’s without life coverage, get insured today!

Here at The Harrin Group in San Antonio, TX, we can help you acquire life insurance coverage that meet’s your individual and family’s needs, from a multitude of top-rated life insurance carriers. Not just one company like you will often get at your Farmer’s Insurance or the like. We also can help those who may not qualify based on health conditions, such as Diabetes or a recent stroke. So give us a ring or drop us a line today, and we look forward to meeting your life insurance needs!

Source: Consumer Reports, LIMRA