Life is an adventure. As we go through our day-to-day activities doing what we can to make the most out of it, many of us prepare for seen and unforeseen situations that may arise. However, busy living and procrastination can lead some of us to think that an essential part of life – Life Insurance – isn’t so essential. Research finds that 46% of American adults don’t have life insurance.1 With 90% of total health care spending coming from a chronic and mental health condition, would you be prepared?2
The fall is a great time to evaluate your insurance coverages. Luckily, open enrollment takes place during this time for most employees. If there’s someone you care about, who would suffer if you and your financial contributions were no longer in the picture, life insurance is absolutely essential.
Life insurance extends your financial protection when faced with an unexpected event. While there are several different types of life insurance, they all have one thing in common – they pay cash to your loved ones in the event you pass away.
For an overview of life insurance and how it works, check out the article, How Does Life Insurance Work? at NerdWallet.
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