Life Insurance - Who Needs It?

Life insurance is smart for everyone.

Many people who could benefit from a life insurance policy don't even know they need it. Sadly, every year accidents, injuries and illness claim the lives of people who are financially unprepared, leaving their families in a state of emotional and financial distress. Don't let this happen to you! Find out if you could benefit from an affordable life insurance policy by using our quick checklist below:

  • Newlyweds. Young couples often neglect obtaining family life insurance because they simply don't think about it. But this could be a tragic mistake. Young couples are more likely to have higher than average rates of debt due to buying a first home, paying down student loans and other costs. Combined with relatively small savings, the loss of one partner and income could result in financial devastation for years to come. Don't delay -- take time to obtain an online life insurance quote from GEICO to make sure your family is protected. Begin early to lock in the best term life rates for a 20, 30 or even 40 year period.

  • Middle-Age. It's tempting to eliminate the cost of life insurance after building up a retirement account and sending the children off to college, but you may be more vulnerable than you think. The loss of one income-producing partner leaves the remaining family members without a "safety net" to fall back on. Building a retirement account, helping the children pay for college and other life events shouldn't come to a halt. Properly planned, the cost of life insurance is relatively minor compared to the peace of mind it brings.

  • Seniors. Even among those who have purchased and kept life insurance during their younger years there is a tendency to under-value life insurance during the retirement years. Once the mortgage is paid off and the retirement account is fully funded many people falsely assume it is safe to eliminate life insurance. In fact, the cost of health care, medication and assisted living has increased far in excess of the general economy, leaving your spouse or loved ones at greater risk than ever.

The above-listed tips are for informational use only. Refer to your insurance policy contract for specific information regarding your coverages and for actual terms, conditions and exclusions. The above statements are general in nature and may or may not reflect the actual terms of your insurance policy.