Can you believe we are nearing the end of the year?  We are in the heart of the holiday season and for most of us, it really is the most wonderful time of year.  This time of year we focus on what we are grateful for and spending time with our family and friends.

As we enter into the New Year, everyone starts talking about their New Year’s resolutions.  Whether we want to lose weight, start a new hobby, pay off credit card debt, or quit smoking, we shouldn’t forget about one resolution that can easily be put off.  It’s a resolution that offers peace of mind and is large part of financial planning: life insurance.

The New Year is a great time to think about buying life insurance.  We just spent the holiday season with our family and although we look forward to many more years of time with our loved ones, nothing is guaranteed.  One of the most important duties you have is to protect your family.  Part of protecting your family is making sure they are financially secure if you were no longer able to provide for them.  That’s what life insurance can do.

Life insurance offers financial protection and provides financial stability to your loved ones when you die.  Knowing you have your life insurance policy in place can be a comfort to both you and your family.

Why do you need life insurance?

If your family relies on your income, what would happen if you died?  Would your family have the financial stability to maintain their lifestyle?  Would the bills be paid?  Would the mortgage be covered?   Would your loved ones struggle financially?  If the answer is yes, then you have a need for life insurance.

Even if you don’t have dependents, but have debt and/or student loans that are cosigned by your parents, you should consider getting life insurance to cover those expenses.  The person who cosigned your loans will become responsible for the loan balance if something happens to you.

If you have no debt and no dependents, then you may not have a current need for a life insurance policy.

What if you already have life insurance?

If you already have life insurance, a perfect resolution would be to review your policy.  Did you have any significant events over the last year that would warrant changes to be made to your policy?

  • If you were recently married or divorced, you should look over your policy to make sure you have the correct beneficiaries in place.
  • Do you have a new baby in the family? Raising a family is expensive. Review your policy and coverage amounts to allow for your growing family.
  • If you purchased a home you will want to see if your coverage amount can pay off the mortgage.
  • If you made positive health changes, you may want to re-apply to see if you qualify for better rates.

It’s easy to put off buying life insurance, but you never know when that day will come when you need it.  Make it your resolution to check it off your list of things to do. Your family will be happy you did.

If you are looking to purchase your first term policy, or want a new or additional policy, you can run as many free term life insurance quotes as you would like without giving up any personal contact information.  Term life insurance is very affordable and great peace of mind for you and your family.


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