Does Everyone Need Life Insurance?

Does Everyone Need Life Insurance?
May 8, 2019 CommunityAmerica Insurance Agency

In this video blog, Insurance Advisor Joe Yates answers the question, “Who really needs life insurance?”

Claude: Hi, I’m Claude. This is Joe, and we’re with CommunityAmerica. And today, we’re talking about Life Insurance. Joe, I have a simple question. Does everybody need life insurance?

Joe: I would say that’s a simple question, but not necessarily a simple answer. It’s really what your goals are in life. If you think in life there may be a need for life insurance. If you want to buy it when you’re young and healthy, that’s going to be when it’s least expensive, so that would be a good time to buy.

Claude: So I can lock it in early when I’m younger and healthier, at a lower rate? Is that what you’re saying?

Joe: Yes, that is exactly what I’m saying.

Claude: Ok and then what if I can’t afford to buy it until I’m 50? Is that still an option?

Joe: It’s still an option; just keep in mind that it probably will cost a little bit more because you’re now older; health could have changed a little bit so that would weigh into the cost of it.

Claude: Okay, and is there a reason I would not have life insurance?

Joe: It really depends on what your personal goals are, but if your goals are to leave a benefit amount to your family, if that’s something that you have in the future or have now, then you might want to look at life insurance if you can’t self-fund that.

Claude: And that’s something you can help me figure out?

Joe: Definitely is.

Claude: Great, thank you.