A lot of people know that life insurance is important, but they think only for the breadwinner of the family
Wheeling, IL (Vocus) May 10, 2010
AccuQuote, a leader in providing term life insurance quotes to people across the United States, suggests life insurance is important for the entire family. The multi-carrier life insurance brokerage firm provides reasons why all family members can benefit from having life insurance coverage.
“A lot of people know that life insurance is important, but they think only for the breadwinner of the family,” says Byron Udell, founder and CEO of AccuQuote. “This couldn’t be further from the truth.”
In today’s economic condition, it is common for both spouses to work in order to survive financially. Working spouses each need a life insurance policy that is sufficient enough to replace their annual income for 10 to 15 years. Children can also benefit from having life insurance coverage at a young age.
AccuQuote provides the following reasons why all family members should have some type of life insurance coverage:
- Breadwinner – The breadwinner earns the majority of a family’s overall income. “If you’re the breadwinner, you need enough life insurance to make sure your family is taken care of financially when you die,” says Udell. The loss of a breadwinner’s salary could be devastating for a family’s overall financial future.
- Working spouse – Married couples share financial obligations; therefore, both working spouses need life insurance coverage. “Even if you don’t make as much money as your spouse, your financial contributions make a difference,” says Udell. “Ask yourself this question: Would your spouse be able to pay all of the bills on just one salary?” Life insurance can help pay for some of those extra costs.
- Nonworking spouse – Even stay-at-home parents need life insurance. They are responsible for various household chores that would otherwise cost thousands of dollars a month if paid to a professional. “If you died prematurely, your spouse would have to pay someone to take care of the things you did at home,” says Udell. “A life insurance policy can offset the additional cost of things such as childcare, transportation and cooking.”
- Child – “Some people think that owning life insurance on a child is unnecessary, even morbid,” says Udell. “But the fact is, if you lose a child as a result of an accident or illness, final expenses can just compound your grief.” Child policies provide coverage for life, even if their health changes and they become otherwise uninsurable. These policies are very inexpensive and no medical exam is necessary.
It is easy to get your entire family covered with life insurance in just one phone call. Contact a licensed life insurance agent at AccuQuote for professional, unbiased advice. The process is quick, easy and free.
AccuQuote helps consumers find the best values in term life insurance by combining instant online life insurance quotes with the personal service of unbiased life insurance professionals that can help answer questions, identify important issues, and make meaningful recommendations. The company offers consumers an extensive selection of life insurance options, including term life, whole life, and universal life, as well as selected annuities. The website has many handy insurance tools, including a life insurance needs calculator to help you figure out how much to buy, a glossary that explains industry terminology, a collection of articles that cover the basics about life insurance and a blog which answers many questions about life insurance. For additional information or to get quotes for cheap term life insurance, please call 1-888-314-4455.