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

Got Insurance?

Hayden Childs

Alabama Licensed Agent

(205) 269-1382

shcmail34@yahoo.com

"I Still Make House Calls"

Comments

022823 The 9 Benefits of Whole Life Insurance...

(1) Provide for Loved Ones… It’s the basic need everyone thinks about. You have a young family. You are the major breadwinner. Something happens to you. How is Your family supposed to make ends meet? It’s a form of protection. Peace of mind. (2) Key Man Insurance… You and your partner own a business. It’s grown. Many employees Depend on you. If something happens to your partner, it’s likely their Spouse or family will inherit their share of the business. Cash would Be a lot more useful to them. Life insurance on both partners can Provide the cash to buy out heirs and keep the business intact. (3) Emergency Loans… Hopefully your client lives a long life. The whole life policy accumulates Cash value, eventually growing to the full face value, or beyond. Many Policies allow you to borrow money against the cash value. You would pay interest. (4) Funding Estate Taxes… Your client owns a farm. I...

090921 Those Dying From Covid-19 Are Least Likely to Own Life Insurance...

Many companies have sharply reduced estimates of their exposure, as measured by payouts per 100,000 U.S. fatalities As the number of U.S. corona virus deaths surpasses 200,000, public-health experts point to a series of missteps and miscalculations in the country's response. Here’s a look back at how the U.S. became the center of the global pandemic. Sept. 28, 2020 5:30 am ET U.S. life insurers are paying out far fewer Covid-19 death claims than initially expected, largely because the virus is disproportionately killing people with little to no insurance. In the past few weeks, many life-insurance companies have sharply reduced estimates of their exposure, as measured by payouts per 100,000 U.S. Covid-19 fatalities. Estimates have come down by an average of 40% to 50%, according to Credit Suisse stock analyst Andrew Kligerman. Driving the rapid reduction in exposure are two groups… older Americans and minoriti...

080822 Less Common Life Insurance Needs

On top of the most common reasons for buying life insurance, It can help cover some less common needs. These could include… *Insuring Children Buying a policy on a child can ensure that the family will financially Survive the loss of the child, but keep in mind that such a loss is Fairly unlikely. It can also ensure the child’s ability to qualify for life Insurance in the future. That could be helpful in the case of a health Diagnosis that might make it harder to pass the underwriting process. *Replacing Retirement Benefits Life insurance is often marketed as income replacement for an Insured person during their working years, but some retirees may Choose to keep theirs after leaving work. It can be used to replace The loss of any retirement income for their spouse or any dependents. *Investment Permanent life insurance can provide you with a potential income Source. You can access your cash value once it has buil...

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