Too Many Choices

According to LIMRA, 35 million Americans have no life insurance. But, it's pointed out that many of those uninsured would like to purchase life insurance but don't know how to go about doing so.

I get it. As a life insurance provider, our industry does a fantastic job of OVERWHELMING our clients! How many years, what type do I get, what does an exam entail, how much do I need.... the list can go on and on.

My suggestion? Start. Even buy a small policy. You can layer them over time if you'd like. I, personally, have term policies, a return of premium term policy (either I die and my estate gets $500,000 OR at age 65, I'm alive and well, I get my premium of $25,000 back), two whole life policies, etc.

Now, if something happened to me tomorrow, do you really think my husband or kids are going to question WHAT TYPE OF POLICY paid out? Nope. They only want to know that it was in force and life is a little more secure than without it.

Just take the steps to understand (a) what you have right now; if anything (b) the basic differences between policy types (c) how much coverage you need (likely a much higher amount than you'll imagine). Take baby steps if need be, find a good advisor to coach you along. The product is so important to families. Take the first step.