082721 Have you been putting off buying life insurance?

Now might be the time to get it done.

 

TEXAS, USA — Just when we would like to be carefree again,

the pandemic is weighing on our thoughts. Recently, 15% of

people surveyed said they’re likely to purchase life insurance

due to the impact of COVID-19.

Maybe this will be the reminder many people need. Stats say

almost half of us have put off getting coverage that we know

we need. One survey showed that more than half of us think a

life policy is going to cost three times as much as it really does.

And women are far less likely to have coverage than men.

“Today life insurance ownership for women is 47%, much lower

than the 58% of men who have coverage," according to a 2021

Insurance Barometer Study from LIMRA.

 

If you are considering getting life insurance coverage,

now might be a good time

 

During the worst of the health crisis, many insurers restricted new

policies, like not offering them to the oldest applicants, changing

which underlying conditions they would accept and delaying

approval if you had traveled internationally or been exposed to

someone who had COVID-19.

Well, the majority of insurers have reportedly lifted those special

restrictions. And maybe the insurance companies missed all of

us applicants. Lifequotes.com reports that life insurance rates

have now fallen to an all-time low.

So, if you still need to get it done, do it. And even if you have

life insurance, many who have policies are considered under insured.

Now might be a good time to make sure your coverage is adequate.

 

How do you know how much life insurance you need?

 

Each person’s situation is different, but there are some generally

accepted suggestions for determining your life insurance needs.

Nerd Wallet published a article that answers the question of how

much you might need. It also includes a life insurance calculator.

Once you know how much you might require, you can find out how

much that coverage might cost. 

 

Author: Jason Wheeler

Published: 8:22 PM CDT July 5, 2021

 

https://www.wfaa.com/article/money/business/right-on-the-money/life-insurance-time-to-buy/287-b08c8ca5-f518-4b40-933c-315aa2e4a258

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