

1. You can't afford it....
You would be surprised how many people dismiss the idea in their head even though it's a concern for them because they think they can't afford life insurance. In reality, each persons situation is different. Life insurance, especially when you are younger, can be extremely affordable. We recommend asking a life insurance specialist to review your needs with you. You may realize you can't afford NOT to have it.
2. My Partner/Myself are employed. They/I will be just fine. We don't need it....
It is great that you guys are employed and able to work! But would you or your partner be able to continue living the same quality of life if your income, or theirs, wasn't coming into the household anymore? We see many young couples and young families with both adults working who feel this way. Our recommendation? Look at your current situation, (mortgagee, child care, household chores, household bills, vehicles, debt, etc) See what would happen if you took one person away? Would your partner need to put the kids in daycare? Would someone need to be paid to help clean the house or meal prep? Would you still be able to pay all the bills, keep that house, save for retirement, go on vacation if that second income wasn't there?
3. We don't have any debt, they could just sell the house....
Congrats on being debt free! That is a huge accomplishment. That is great that you have an asset like a house to sell if needed. We recommend talking about what the plan would be? Would you want to HAVE to sell the house if there was a death. If you are okay with that, what would it cost for expenses to sell? How long will bills need to be paid while the house is on the market? Will you need some extra cash for moving and paying closing cost? When putting these thoughts together, it might make sense to have something small just in case.
4. We haven't gotten that far....
Trust me.... We understand procrastination. And it happens to all of us! Life insurance isn't something everyone thinks about all the time. It's morbid to think about death. And we don't like to imagine that situation. But the reality is, we do all die. There isn't a forever potion. Yet... So it is a good time to start thinking about what next? And the plus side is, when you take out life insurance at a young age it's significantly less expensive, especially if you are in good health. It's something your family will be glad you did on the worst day of their lives.
5. I am young with no dependents yet...
Hey we were all there once. This is a time when it might not be 100% needed yet. We would encourage you to look at your individual situation. Do you have plans for the future? Relationships? Kids? Business Owner? Because life insurance is so much cheaper when you are young and healthy, many times it makes sense to get started on that path now. When you don't "need" it, so you are prepared for when you do !
Looking to plan for your future? Unsure "what would happen if.."?
Call Brittany Bergum at (920)-626-2400
or email at
brittany.bergum@myinsuranceguardian.com