There are two reasons why people tend to shy away from this purchasing life insurance. The first reason is that people don’t like to think about their deaths. However, that is precisely what life insurance is there for. It is there to help the people left behind to be financially secure either for a few years or for the rest of their lives after the death of a loved one. Another reason people tend to avoid life insurance is because they feel it will be too expensive. Fortunately, with term life insurance in Wichita KS, the cost of insurance can be mitigated.
Term life insurance has always been considered a more affordable option than some insurance types. This insurance can offer someone a significant death benefit for a minimal amount of money per month in premiums. In addition, if a person smokes, is overweight, or suffers from a health condition, they’re still eligible to purchase term life insurance. These policies might be slightly more expensive, but it is still significantly less than other life insurance options.
The drawback to term life insurance is that it isn’t a permanent policy. Life insurance can come in increments of anywhere from one year with a short term policy to as long as 30 years. Once the policy has reached its age limit, the policy is no longer active. This means all the premiums a person paid will no longer be recoupable through a death benefit.
Whole life policies, however, can transition into retirement annuities if the owner chooses. If not, the owner can continue to pay the premiums, and the death benefit will be in place until that person passes away.
In relation to a person not wanting to think about their mortality, this represents a somewhat selfish point of view. If a person is leaving behind family members that are currently depending on them for their financial well-being, term life insurance in Wichita KS is essential. This will give a spouse or family the financial means to continue on without worrying about money.
If you currently don’t have life insurance because you don’t like thinking about death, or you think it’s too expensive, the best advice is to simply get over the anxiety related to thinking about your mortality and understand there are affordable life insurance options. To learn about your life insurance options, visit us here.