Term Life Insurance Helps Parents Take Care of their Children in Times of Tragedy
Survey after survey indicates that parents, upon their death, typically do not have enough life insurance to properly care for their children.
The reasons cited have to do with financial priorities. Parents struggle with many economic challenges and often it is the life insurance policy that gets set aside in favor of other priorities.
There is no debate that parents believe having a life insurance policy with their children as beneficiaries is a good idea. Studies indicate 85% of parents feel this way. Yet there is a large gap between this sentiment and the actual amount of policies that parents purchase.
A principal reason for this gap is parents believe they cannot afford proper life insurance. Term life insurance policies can offer a remedy to this. It is not uncommon for parents to discover they can afford a policy with a higher value than they expected. Get a quote now!
The harsh reality is that fewer than half of U.S. households maintain a current life insurance policy. This can, of course, have devastating consequences should the unthinkable happen. If the primary bread winner in the family should suddenly not be there due to a fatal accident or illness, it is important that the children are care for. Term Life Insurance offers this level of security for an inexpensive monthly free.
Upwards of 40% of Americans who do have life insurance also believe they do not have enough life insurance. This creates difficulty as well. The ability to find affordable term life insurance to cover the gap is important. If the amount is indeed insufficient, this means that 4 in 10 households with children would have difficulty with expenses in a world where one or both parents were deceased.
The professionals at Alexander & Rosenbaum Financial Group created NeedTermInsurance.com to help parents find the plan they need to address these requirements.
To get a free quote immediately, click here. To speak directly to us, contact us today.
Sources: LIMRA’s Life Insurance Barometer Study, LIMRA’s Trends in Life Insurance Ownership Study, Genworth LifeJacket Study