Why & How to buy Life Insurance?

If you’re young and in good health, you probably have never thought much about life insurance. But have you ever considered what financial obligations might still exist if you died? In addition to funeral costs and current bills, what about family living expenses, mortgage payments, long-term debt and college costs? The primary purpose of life insurance is to provide resources for all of these expenses.

With the economy still struggling, many Americans may have or have had to choose between paying bills and buying life insurance. The decision to go without life insurance could put families at financial risk during a time of emotional and financial stress, leaving them unprepared for the future.

According to a study done by LIMRA, three in 10 American households (35 million) are uninsured, and half say they need more life insurance. The survey also showed:

• 95 million Americans have no life insurance, and those who make between $35,000 and $100,000 a year represent the largest group of these households.
• Seven in 10 women agree having life insurance is a necessity and all people should have it.
• One-third of married women do not have life insurance, despite the fact that 7 out of 10 households are dual income.
• More than half of Generation X and Y households need more life insurance.

As you are facing the strain of today’s economy, think how your family or business would fare if you were to die leaving no income and unpaid financial obligations. This is a problem that can be solved easily and economically through the use of life insurance.

Contact your local SBS Insurance agent, a Trusted Choice® insurance professional about your specific needs for life insurance.

To access the Life Needs calculator please go to http://www.lifehappens.org/life-insurance-needs-calculator/ .  This is even available on your iPhone or IPad with a free download thru iTunes.