Life insurance allows you to take care of your loved ones even after your death


September is Life Insurance Awareness Month, so let’s take a look at how Americans plan for their future. According to, only 52% of Americans have a life insurance policy. This means that nearly half of American families will lose a loved one and become financially responsible for the funeral and various debts of their lost loved one. Imagine you drop off a family member and the funeral director gives you an invoice in the $ 10,000 to cover burial costs. Worse yet, imagery takes financial responsibility for the remaining children with no additional resources available.

These challenges are easily solved with simple life insurance planning. Unfortunately, too many people get their life insurance advice from their company’s human resources department, not from a trained insurance professional.

Most Americans don’t seek professional advice, they receive life insurance from their employer and assume the employer knows what their family will need in the event of an untimely death. In order to determine the amount of life insurance needed, one should sit down with a qualified professional and do a needs analysis, which also takes into account current assets and personal goals. Most agents qualified to provide this service will do it for you for free, and it should be reviewed every few years as things change.

Who needs life insurance and why? It’s not an easy question to unpack, so I’ll keep it simple. Buying life insurance is based on love. If you love someone, you want to take care of them, whether it’s providing a lifetime income or paying off debt or both. If you love someone and your death would cause them difficulty, it may be time to have an insurance professional review your insurance portfolio and make sure they will allow you to achieve. your goals when you are no longer there to support them.

Studies show that some people think life insurance is too expensive, while others have never considered the need for it. What people don’t know is that some life insurance companies have lowered their rates and relaxed their underwriting standards. Rates have never been lower and medical requirements have been relaxed. A person under 45 can $ 2 million police without medical examination, and if you are between 45 and 55 years old, you can get up to $ 1 million coverage without exam. Today, people with health problems can get coverage; advanced science has contributed to this over time.


Americans insure their cars, homes, jewelry, and boats to make sure they’re covered against loss, but the only asset we overlook is our income. For most of us, life insurance is the only way to protect future income potential with guaranteed tax-free payments in the event of death. A life insurance policy will continue to work hard for your family long after the insured has left.

Adequate life insurance allows families to stay in the home they are used to, the children’s education will not be interrupted, and the family will have time to mourn without fear of losing more property. Their financial decisions will be made from a position of financial power, not financial weakness. It can save business partnerships that suffer the death of a partner. Money can be provided to the surviving partner (s) to redeem the deceased’s spouse rather than taking them as a full partner.

Today’s life insurance policies are much better than ever. Enjoy greater overall policy flexibility, generous underwriting, and rates that have never been lower! Don’t let September go by without planning a review of your life insurance portfolio. Your family will thank you in the long run.

Rick bowers is the owner of Rick Bowers Insurance. Learn more about


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