Halloween Is Over, But Every Day Is Frightening Without Life Insurance

UPDATED: Mar 26, 2020

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The ghouls, goblins, witches, and Freddy Kruegers are gone for another year, but for many people, feelings of fright extend beyond Halloween. Not fear of the paranormal or supernatural, but rather of not having plans in place to protect their family’s financial security.

Almost half of adults age 25 to 44 are worried about dying prematurely, leaving their dependents in a difficult financial situation.

And want to know something really scary? Thirty-one percent of people say they would feel the financial impact from the death of their primary wage earner in just one month.

Even more terrifying is that four in ten adults don’t have life insurance to protect their families.

If you don’t have life insurance and the unthinkable were to happen to you, your loved ones might:

  • Struggle to keep up with monthly mortgage payments.
  • Fall behind on utility bills.
  • Not have funds to send your children to college.
  • Go into debt to pay your funeral expenses.

It’s enough to put chills up your spine.

Life Insurance isn’t the Horror Story Many Believe it Is

Misconceptions keep a lot of people from buying life insurance. They don’t even look into it because they believe it’s more expensive than it actually is. People with no life insurance overestimate its cost by more than three times. And the truth is, you don’t necessarily need a high cost “Cadillac plan” to protect your family. In fact, term life insurance policies offer financial security at surprisingly affordable rates.

Compared to other forms of life insurance, term life allows you to buy the greatest amount of coverage for the lowest premium. By design, it’s created to last for a certain period of time (i.e., for a term—typically 10, 15, 20, 25, or 30 years). It gives you the ability to protect your family—during the time they will most need financial help—with a death benefit to offset the loss of your income.

Term life policies also enable you to add additional coverage through “riders” such as accelerated death benefit riders (typically at no added cost) and riders that pay benefits for long-term care, accidental death, and waiver of premium due to a disability.

Don’t Let the Unknown Frighten You From Getting Peace of Mind

I understand the topic of life insurance in and of itself is scary, but don’t let that unreasonable fear keep you from giving your family the sense of security they need and deserve. There’s no obligation for simply checking out your options, and you can quickly and conveniently get a term life quote online where I promise you’ll meet up with no things that go bump in the night.

Source: 2014 Insurance Barometer Study, Life Happens and LIMRA

Image: Copyright merlinul / 123RF Stock Photo

Tim Bain

Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites. You can find him on Twitter.

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