Think you can’t qualify for life insurance? Think again.
You want to protect your loved ones for the future once you’re no longer around to provide for them. We all do. Life insurance gives you that peace of mind that your family will be taken care of after you’re gone.
However, you’re also worried that your health issues mean you won’t qualify for life insurance because it is meant for healthy people only. So what do you do?
Only 52% of Millennials have life insurance, but a whole lot more than that have loved ones—spouse, partner, kids, aging parents—that need financial protection if something were to happen to them. Here’s what the 2017 Insurance Barometer Study by Life Happens and LIMRA found:
It’s Life Insurance Awareness Month and what better way to celebrate than gathering Twitter friends and experts to talk about financial fitness and life insurance! We spent an hour today (Tuesday, Sept 12) moderating a very lively and insightful conversation. Here are some great highlights from #LIAM17Chats.
Life insurance should first and foremost fit the purpose—it should meet your needs. And the primary purpose of life insurance is to care for those left behind in the event of your death. With group life insurance, it’s often set at one or two times your annual salary, or a default amount such as $25,000 or $50,000. While this sounds like a lot of money, just think of how long that would last your loved ones. What would they do once that ran out?
It was a struggle, but we learned to pay bills, wash clothes, clean house, keep up our schoolwork and provide meals. In spite of this setback, we all managed to thrive: My older brother graduated high school one month before her passing and works full-time at his manufacturing job. My older sister graduated high school with honors and is currently a sophomore at Lenoir Rhyne University majoring in psychology while doing work-study.