6 “Telltale” Signs You Should Get Life Insurance Now
We’re all going to die.
Being realistic about it, being thoughtful about it, is a caring thing to do for the people you leave behind.
You don’t need to be sold on the point of life insurance - and it’s not for everyone.
But if there’s a chance your loved ones won’t be able to manage with you gone, you already know you should seriously consider life insurance.
So if any of these 6 telltale signs apply to you, you might need life insurance:
1. You’re the breadwinner in your household
If you’re the breadwinner in your family, your family may not be able to manage financially when you’re gone. A life insurance policy could replace your paycheck and help ensure your family’s expenses are covered.
2. You want to pay your own funeral
The average funeral costs $7,000-$9,000. That could be a big financial burden for your family when you’re gone. So to help your family cover the cost of your funeral, plan ahead and apply for a life insurance policy.
3. You’re relatively young and plan to have kids
Policies tend to get more expensive the older you get. So if you plan to have kids and are relatively young, it’s a good idea to plan ahead and get life insurance sooner than later. A life insurance benefit could be used to finance your child’s education and everyday expenses when you’re gone.
4. You’re a homeowner with mortgage
Mortgage payments could be your largest monthly expense. If your paycheck covers the entire monthly payment or just a part of it, you still may need life insurance to help keep your family from struggling to find extra money or having to leave home when you die.
5. You’re a divorced or stay-at home parent
If you’re divorced and paying child support, you’ll need life insurance to help ensure your child can afford everyday expenses like food, clothing, and education - that otherwise would have been covered with child support.
If you’re a stay-at-home parent, you still may need life insurance because your partner may need to pay childcare or a nanny to help take care of your children when you’re gone.
6. You and your spouse have small or no assets
You’ll definitely need to consider life insurance if you or your spouse have low passive or asset income streams to care for yourself if one of you dies.
That’s “nerd talk” for money that comes in whether or not you’re working for a paycheck, like collecting rent from an apartment you own or receiving dividends from stocks. If you pass away, your partner could earn the income you would have.
If you or your partner don’t have ways to earn income passively, you should seriously consider life insurance.
The Bottom Line
While life insurance isn’t for everyone, if any of these 6 telltale signs apply to you, it’s definitely time to consider life insurance.
If you need life insurance but don’t know where to start, we’ve got you covered.
We’ve found one emerging insurance tech “unicorn” that could get you the peace of mind life insurance offers at competitive rates - in just seconds, from the comfort of your home.
Unlike some insurance companies, there’s no need to get a medical exam or talk to salespeople.
If you’re under 54 and relatively healthy, you could apply for $50,000 to $1 million in terms of 10 and 20 years offered by Bestow.
You might be wondering why there’s a difference between Bestow and its competitors. That’s because Bestow uses cutting-edge tech to reduce the time of underwriting and approving your insurance policy.
When you fill out their 60-second online questionnaire, you’ll see the best quotes available to you instantly - and even receive a decision on your policy in minutes.
And with some of the most competitive rates, policies offered by Bestow are easily our top recommendations for life insurance.
This technology is so revolutionary, they received over $60 million from some of the world’s best startup investors (NEA, Valar Ventures) in the earlier half of 2020.
If some of the world’s best investors trust Bestow with tens of millions of dollars, it’s a no-brainer to trust them with just 60 seconds of your time.
If you get approved, you’ll have spent a few minutes and a few dollars a month for the peace of mind knowing you helped to protect your family when you're gone.
So if any of these 6 telltale signs earlier applied to you, there’s no way “you don’t have the time” with the rates and trust Bestow offers.
Think about how much peace of mind is worth to you.
With Bestow’s tech, you could find that peace of mind in a fraction of the time money it takes with other companies.
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