The Importance of Life Insurance Shown through Statistics

 

When it comes to life insurance, adults cannot be too careful. The fact is that everyone will pass on eventually. No one knows the exact date of their death, and because of this, it is important to protect financial assets. Parents must acquire term life insurance to ensure that their families are provided for in the event of their passing. Despite the importance of life insurance, here are some disturbing statistics:

The amount of life insurance policies purchased in the United States has been declining for the past two decades. This leaves many American families unprotected. In fact, studies show that around 6 million homes in the United States have no life insurance protection. This is simply irresponsible, when more than 70 percent of Americans admit to living pay check to pay check. If you’re counted on to provide financial support for your family, this commitment does not stop at death. Protecting them long after you’re gone is the perfect gift of love. Use our life insurance calculator and know exactly how much coverage you need.

Coverage amounts depend on particular life situations. Different families need different policies. On average, husbands who are insured will have more than $235,000 in coverage. On the other hand, wives will be insured for just under $150,000. These numbers are simply too little. The average policy will only provide an average income for four to five years. Most experts recommend coverage for 7 years to a decade. Even if you currently have coverage, it’s possible that you should upgrade with instant life insurance quotes.

More than half of Americans with insurance coverage believe that their coverage is inadequate. This fact comes with so many risks. We believe that people should receive the coverage they need at the best possible prices. Our quote generator will provide accurate quotes that our customers can trust. If you’re serious about providing phenomenal life insurance coverage for your family, trust BuyTermLife.com.

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