It’s a subject that none of us enjoy talking about: whether you need life insurance. It can be a bit frightening to dwell on our death and planning for it whether you are 25 or 85. Being 67, I can’t help but think that I’m not going to be around as long as I have been, and that’s a subject that makes me worry about my younger wife, my kids, and their financial futures. There are a number of important things to consider here and a number of myths about life insurance that need to be discussed while you can do something about it. Let’s examine the facts we are facing now when looking at life insurance in 2016.
Fewer Americans have life insurance today than they did just 10 years ago. Just 60% of us have life insurance and that number was around 70% before the 2008 “great recession”. The reason is fairly simple. A lot of us feel that having life insurance is just too expensive and doesn’t fit into our budget plan since the economy, unemployment, and the difficult times of 2008 have lingered into the present.Continue reading“Why You Need Life Insurance Whether You’re Young or Old”