Who Needs Life Insurance
If you have others that depend on you financially, chances are you need life insurance.
Think of it this way…if you had a legal money making machine in your garage, would you insure it?
Of course you would – so why would you not insure yourself as you are the one making the money.
It is a selfless gift – it insures that your loved ones will be provided for!
Facts of Life.1
Millions of Americans have no life insurance coverage.
- Today, 1 in 3 insured adults have only group life insurance obtained at work. Adults with only group coverage carry the lowest amounts of life insurance. Coverage is higher today, but many still feel they are underinsured.
- Twenty-five percent of all household heads feel they do not have a plan in place to provide a decent standard of living for their family if they died tomorrow.
- Twelve percent of households would immediately have trouble meeting everyday living expenses, and another 15 percent would have difficulty keeping up with expenses after several months.
Americans want more insurance but offer many excuses for not buying.
- The final decision to buy life insurance is partly emotional, involving fear, possible regret for not buying, and love — the desire to provide security for family and dependents.
- Consumers feel buying life insurance is an important and complex financial decision. Eight in 10 find it difficult to decide how much and what type to buy and worry about making the wrong decision. Two-thirds don't know where to buy or who to turn to for help.
- Two thirds procrastinate — admitting they just have not gotten around to it; almost half said no one has approached them about coverage.
- More than 25 percent of all U.S. households said they were likely to buy life insurance in the next year; 45 percent of households that believe they are underinsured said they expect to buy.
1LIMRA International's Life Insurance Ownership Study, 2006.
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Don’t be one of the statistics –
let us help you plan today to protect tomorrow.
How much life insurance is enough?
This answer varies depending on each family’s needs. After September 11, 2001 the U.S. Justice Department calculated compensation to meet the needs of families of victims from the terrorist attacks. The government recommended approximate payments of:
- 12 times income for couples with no children
- 20 times income for households with children1
Only 1 out of 10 American adults has life insurance coverage equal to at least 7 times the individual’s annual income.2
66% of beneficiaries who do receive life insurance benefits receive less than three times the annual income of the deceased.3
This is from the government, not the insurance companies. We will work with you to look at you and your family’s personal situation to determine a plan to help fit your needs and your budget. You can also use our Life Insurance Calculator to help you.
Top 5 reasons you should talk with us:
- Online quotes are not final or binding.
- An online quote may not assess all of your needs.
- Life insurance can be complicated; we can help you look at the different options to fit your needs and your budget.
- You're more complex than a dropdown box.
- Alliance agents are trained professionals.
Find an agent near me
Our mission is to help individuals, families, and businesses build, protect, and preserve their hard-earned assets. Please contact us for more information.
Sources
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1Explanation of the Process for Computing Presumed Economic Loss (Revised April 2, 2002). Department of Justice, September 11th Victim Compensation Fund of 2001, www.fbfs.com/fbfs/news/newsarticle.cfm
2 1998 LIMRA Ownership Study
3MetLife Financial Impact of Premature Death 2003