WFG women and men know how important having life insurance is. Yet research shows that 30 percent of American households don’t have any life insurance coverage. There are a variety of reasons for the lack of life insurance coverage in this country, including: the misconception that only elderly people need life insurance; that it’s too expensive; or that investing money elsewhere can be more profitable. WFG associates know the real facts, and are spreading those facts to each client with whom they come into contact.

Many people believe that life insurance is only necessary for costs associated with death.  That is partly true, as costs related to funerals and burials are higher than ever. A life insurance policy can help take the burden of those costs off your loved ones in their time of grief. But a life insurance policy can have important uses beyond just covering the immediate costs associated with the death of a loved one, as WFG women and men know. Think about what life would be like for your family if you suddenly became ill or, worse yet, passed away. If you don’t have life insurance, life could become even more difficult for your loved ones. They might not have the resources to pay for funeral costs or any outstanding debts that you may owe. In such instances, loved ones can become burdened with having to pay so many expenses.

What often goes overlooked is that life insurance can cover costs outside of funerals and outstanding medical bills. Life insurance can also cover college tuition, mortgage payments, business loans and much more, depending on the type of coverage you have.  Some life insurance policies also have a cash growth option incorporated, which allows you to withdraw funds for any future goals you may have.

If you do have life insurance, when was the last time you “did the math” to determine if your needs have changed? If you purchased life insurance when you were 25, for example, and are now 55, chances are your life has changed. You should ask your employer if you have the option to increase your life insurance coverage (you should also know the specifics of your employer-offered policy). Additionally, if you haven’t sat down with an insurance professional in quite awhile, then schedule an appointment with one of the many WFG women and men eager to help you ensure that you have proper coverage.