American consumers’ top three financial concerns are health coverage, savings goals, and living expenses.1 What if we told you their fourth financial concern, life insurance, had the potential to solve for the first three? Let’s take a look at four of the best features life insurance has to offer.
L – Low Cost
Many don’t realize that life insurance doesn’t have to break the bank—there’s a policy out there that can fit your financial situation. Did you know, that for the price of three cups of coffee per month, you could buy a term life insurance policy?2 Affordability is important when considering life insurance, but it’s also important to look beyond the price. What benefits does this policy include? How can it help me financially in the long term?
O – Options
A policy with flexibility is important—every person is different and has their own needs and financial goals. Providing different options to clients is one way life insurance can be flexible and adaptive to your unique life. As your life changes, your needs may change as well. Many life insurance policies offer different features such as living benefits and cash value growth potential, which are added benefits on top of the death benefit protection.
V – Various Life Stages
Life is full of great moments—whether you’re graduating college, getting married, buying a house, starting a family, or planning for retirement—but all of these moments require more financial responsibility. We’re here to tell you that you don’t have to do it alone! What milestone are you facing next? Life insurance can walk alongside life with you and help you during these special moments.
E – Extra Protection
Did you know that the average out-of-pocket expenses for a cancer patient are $703 per month?3While the main benefit of life insurance is the invaluable death benefit protection it provides, many policies also come with living benefits, which may be used for a variety of expenses—including covering the costs of a major medical illness.Life insurance can help protect you in those moments of uncertainty.
Keep these four features in mind when thinking about your financial needs and goals. Get in touch with a North American agent to learn more about what a life insurance policy can do for you.
- Source: 2019 Insurance Barometer Report, LIMRA. Accessed January 2020.
- Source: LifeHappens, lifehappens.org/insurance-overview/life-insurance/. Accessed January 2020.
- Source: “Even Insured Patients Are Overwhelmed by The Cost of Cancer Care,” Forbes, August 10, 2017.