Life insurance can be very difficult to understand. Especially the costs and benefits. Take term insurance as an example. To some people, it is frustrating to have to send a check every month and never get anything back!
So why would anyone buy this stuff?
All kidding aside, there are some good reasons to consider life insurance including the following:
Regardless of which reason is important to you, you should consider what you want to protect. No one can tell you what the right amount of life insurance should be.
However, a good insurance agent can help you quantify how much coverage you may need and how much it will cost.
Some needs, like taking care of your children, only last for a certain period of time. When they are grown, the need will be gone, so term insurance can help with that need. Other needs last for life so you may want to consider some types of permanent insurance
The key is to take action and get started now. Even if you cant afford to buy the entire amount, starting today can help protect your family in the future.
Featured Blogger Matt Easley is Vice President of Life Products at Allstate Insurance. His views are his own and do not necessarily represent the positions, strategies, or opinions of Allstate.