The Life Insurance and Market Research Association recently reported that individual life insurance policy participation is at a 50 year low.
With only slightly over 40 percent of American households carrying individual life policies, many individuals and families are considered to be at risk.
Consider with that statistic that the vast majority of families with children under 18 will not be able to care for their kids if one parent dies, and there is a recipe for disaster for many families and children.
During a difficult economy many people scale back or eliminate their insurance coverage in order to save money.
The hope of most of these individuals is that nothing will happen and that eventually they will be able to afford to reinstate or increase the policy coverage.
Unfortunately for some, tragedy strikes and their loved ones are left to pay for funeral expenses and any outstanding debts, not to mention the devastating emotional impact and the financial difficulty left in the wake of a person's death.
While individual life insurance is scaling back, the paradoxical results of the survey also report that most families agree that they need additional coverage.
Knowing that a great many families are struggling financially, they also acknowledge that at any given time if a death occurs their situation could become calamitous.
For persons who acknowledge that they need more individual life insurance, many are unsure where to turn for sound reliable advice that is objective and trustworthy.
There are options available for people who need to explore their options:
Whether you decide to work with an agent online or face to face, a qualified agent will work with you to determine a policy that is right for your household situation and your financial situation.
With only slightly over 40 percent of American households carrying individual life policies, many individuals and families are considered to be at risk.
Consider with that statistic that the vast majority of families with children under 18 will not be able to care for their kids if one parent dies, and there is a recipe for disaster for many families and children.
During a difficult economy many people scale back or eliminate their insurance coverage in order to save money.
The hope of most of these individuals is that nothing will happen and that eventually they will be able to afford to reinstate or increase the policy coverage.
Unfortunately for some, tragedy strikes and their loved ones are left to pay for funeral expenses and any outstanding debts, not to mention the devastating emotional impact and the financial difficulty left in the wake of a person's death.
While individual life insurance is scaling back, the paradoxical results of the survey also report that most families agree that they need additional coverage.
Knowing that a great many families are struggling financially, they also acknowledge that at any given time if a death occurs their situation could become calamitous.
For persons who acknowledge that they need more individual life insurance, many are unsure where to turn for sound reliable advice that is objective and trustworthy.
There are options available for people who need to explore their options:
- Meeting with a qualified insurance broker or agent is a very good alternative.
Insurance agents are trained and certified to help individuals find the right policy that is appropriate for their situation. - Going online now provides a multitude of information about insurance policy options for individuals who would like to better understand whole life, term life, and all of the variations that come with these types of policies.
- Many employers provide a life insurance option as part of their benefits package.
Employees can contact their human resources department to find out what insurance options are available and to get policy details with prices in order to make a choice.
Then the cost for the insurance can be deducted from the paycheck each month, making the payment process very easy with little effort.
The disadvantage to this choice is that the employee is limited to only what the employer offers, so it is wise to look at all options before making a decision on the policy.
Whether you decide to work with an agent online or face to face, a qualified agent will work with you to determine a policy that is right for your household situation and your financial situation.
