ERIE, Pa., Sept. 12, 2019 /PRNewswire/ -- Are you like
the majority of Americans who don't have life insurance, but also
know that you should? Life insurance is probably something you're
uncomfortable talking about, but it's far too important to put off.
September is life insurance awareness month, making now a good
time to reconsider what is really holding you back.
Erie Insurance provides perspective on the six most common
reasons people delay buying life insurance:
- It's too expensive. Cost is the number one reason
people don't have life insurance. A study from Life
Happens and the financial and insurance organization LIMRA, shows
that consumers tend to overestimate the price of life insurance.
For instance, when asked how much a $250,000 term life insurance policy would be for
a healthy 30-year-old, the median estimate was $500 annually—more than three times the actual
cost. Life insurance is probably more affordable than you think—and
there are lots of ways to bring the price into your comfort
zone.
- I have a health condition. The good news is
that having a health condition doesn't automatically disqualify you
from getting life insurance. If you overcame a serious condition in
the past or if you are managing a condition with the help of a
medical professional, you can still be covered.
- I don't have any kids. There are many
reasons people with no children still need life insurance. Just a
few include providing for a financially dependent spouse or another
family member, having the money to pay for a funeral or being able
to pay off a loan that has a cosigner. Life insurance can also
help you leave a gift to a religious, educational or charitable
organization near and dear to your heart.
- I don't work outside of the home. If you stay home
to care for kids or other family members, it may take hiring
someone to replace all that you do. And that could be pricey, so
definitely consider buying life insurance as a way to cover
those additional expenses.
- I'm not sure what I need. Most people don't—but
your Erie Insurance agent is there to help you. Erie
Family Life offers options like term insurance that's designed to
last for a specific period of time and permanent plans designed to
last a lifetime. Your ERIE agent
can recommend one that works with your life and budget. You can
also get an idea of how much life insurance you need by using our
handy life insurance calculator. For more information on
where ERIE offers life insurance,
check out our website for availability.
- I don't have the time. Life is busy, which is why
Erie Family Life offers e-signature on life insurance policies to
make the process easy and convenient. You can also
consider ERIE
LifeSense®, which can provide up to $90,000 worth of coverage in about 15 minutes.
There are no doctor's visits or complicated forms—just a simple
application with only a few medical questions.
An Erie Insurance agent can make the conversation
about protecting the people that matter most as easy as
possible. When it comes to life insurance, the only wrong
choice is doing nothing at all.
Erie Insurance Group
According to A.M. Best
Company, Erie Insurance Group, based in Erie,
Pennsylvania, is the
9th largest homeowners insurer and 12th
largest automobile insurer in the United States based on
direct premiums written and the 16th largest
property/casualty insurer in the United States based on
total lines net premium written. The Group, rated A+
(Superior) by A.M. Best Company, has more than 5 million
policies in force and operates in 12 states and the District
of Columbia. Erie Family Life
Insurance Company is rated A (Excellent) by A.M. Best Company. Life
insurance policies not written in New
York state. Erie Insurance Group is a FORTUNE 500
company.
News releases and more information about Erie Insurance
Group are available at www.erieinsurance.com.
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SOURCE Erie Insurance