Forgoing Individual Life Insurance Is An Unnecessarily Risky Move – Don’t Do It

Forgoing Individual Life Insurance Is An Unnecessarily Risky Move – Don’t Do It

As more families continue to struggle to pay bills, the number of those choosing to forgo individual life insurance has increased. The Trends in Life Insurance Ownership study by LIMRA reveals that less than half of American households have life insurance.

When paying bills is difficult, it may seem like paying for life insurance isn’t a necessity. However, those who are just getting by may be the ones that need life insurance the most. If something were to happen to the breadwinner in a family, many would not be able to make ends meet.

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Why life insurance is beneficial for stay-at-home moms

Why life insurance is beneficial for stay-at-home moms

Many women are behind in purchasing life insurance policies. Nearly one-third of women have not purchased a life insurance policy and two-thirds of women who own a life insurance policy believe they have not purchased sufficient coverage, according to the Money Times.

Women should consider purchasing a life insurance policy if their families depend on their income, whether in part or in full. It is always best to plan for the worst in order to prevent financial hardships in the face of a sudden death.

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