Younger, healthier families may overlook the value of life insurance. However, research shows that this coverage benefits people of all ages and prepares families for unexpected loss.
Life insurance is a way to protect your loved ones’ future well-being if you die. Younger, healthier generations do not see the value of having life insurance at this point in their lives. Recent research shows how counterproductive such thinking can be.
A major selling point, particularly for young people, is that life insurance can prepare one’s family in the event of an unexpected, life-altering accident.
For example, the number of traffic fatalities has risen dramatically in recent decades.
According to the National Highway Traffic Safety Administration of the United States Department of Transportation, 33,561 traffic fatalities occurred in 2012, a 1,082 increase from 2011. Given the unpredictability of such tragedies, this is yet another reason to think about investing in life insurance.
Illinois, Nevada, Utah, Arizona, and other states are banding together to set a zero-fatality goal in order to reduce traffic fatalities and save lives. The efforts vary by state, but all aim to prevent dangerous roadside behaviors like drowsy driving, distracted driving, aggressive driving, impaired driving, and not wearing a seat belt from occurring. Traffic accidents continue to be the leading cause of death for children, adolescents, and young adults.
The program’s success is due to the participation and coordination of state departments, organizations, and private businesses. Its mission is to educate the community on why “Zero Fatalities” is the only number of deaths that our country should strive for.
Due to the unpredictability of life’s events, life insurance experts advise families to plan for the unexpected, which can be accomplished through proper planning and insurance proceeds. Coverage may differ depending on whether an individual has children, dependents over the age of 18, or other assets.
Fortunately, life insurance rates are currently at an all-time low in the industry, making it affordable for almost everyone’s budget and insurance needs.