Do You Need Life Insurance?

Having regular insurance is difficult enough, but what happens if there’s a sudden family death? Those kind of costs can be astronomical, and your family might not be ready for it. That’s why it’s always a good idea to be prepared. It’s not every day you think about purchasing life insurance, but if you are thinking about it, then it’s best to do your research. If you’re looking for insurance in Torrance, California, ISU – The Olson Duncan Agency offers the best possible life insurance policies.

Over 77 percent of millenials say that they would consider purchasing life insurance, according to LIMRA’s 2016 Insurance Barometer Study, with 66 percent of overall consumers saying that they would be likely to recommend life insurance to others. The short answer to the question is yes, you should purchase life insurance. But take a look at this list to find out more about how life insurance can be beneficial in your life situation.

Who Needs Life Insurance?

Everyone needs like insurance, whether you’re a young single adult or have a family to support, according to the Balance. It’s most common for those with families or starting a family to often purchase life insurance. However, even if you have no dependents, having life insurance can still be helpful. Life insurance can help you out in a multitude of situations. Those who have chronic health problems might want life insurance more than someone who is healthy. In addition, sometimes things happen that we don’t plan for. Having life insurance helps because it covers all of your immediate funeral expenses. That way the burden doesn’t fall onto your surviving family members.

When Should I Get Life Insurance?

In general, the younger and healthier you are, the cheaper your health insurance will be. That’s why it’s a good idea to purchase life insurance while you are young, even if you have no family to support. It will benefit you and your family members in the long run. If you’re older, it’s never too late to purchase life insurance. Talk to your insurance agent to find out how you can get the best coverage even if you are older or have health problems.

What Can I Use Life Insurance For?

There’s plenty of situations where life insurance is needed. As a young single adult, you might need it so no burdens fall upon your parents or siblings. When you’re starting a family or already have an established family, life insurance makes sure that your dependents are covered in the event that something happens to you. Having life insurance also helps when purchasing a home or having other debts. Life insurance can pay off your debts when you pass away, that way the burden doesn’t fall onto your surviving family members.

In short, life insurance is a very versatile form of coverage that can be beneficial for all kinds of people with all kinds of life situations. Contact ISU – The Olson Duncan Agency for more information on how a term life insurance policy can help you.

About ISU / The Olson Duncan Agency

At ISU-The Olson Duncan Agency, our goal is to provide clients with a total solution, not just a quote or a contract. We provide businesses and individuals with insurance and risk management solutions, and we aim to provide real value and build trustworthy, long-term relationships with our clients. To learn more about our services, give us a call today at (310) 373-6441 to speak with one of our professionals.