Many younger adults do not carry life insurance because they think that it is only important for senior citizens approaching their twilight years. While it is true that currently, the average lifespan is close to 80 years, people of all ages pass away each and every day.
For older individuals, life insurance can help with final expenses, and be part of the legacy they pass along to adult children. Older children are more likely to be self-supporting and not dependent on insurance policy proceeds.
Things are different for their younger counterparts, especially when they are married and have children of their own. The vast majority of young families depend on two incomes to maintain their standard of living. If a younger married person was to pass away, the surviving spouse would be left with an enormous emotional burden, and it could be compounded by significant financial hardships. This situation gets exponentially more difficult if there are dependent children involved.
Clearly, it is difficult-to-impossible for most young people to accumulate savings that would be sufficient to make up this gap. This is where life insurance can enter the picture to provide the ideal income replacement vehicle.
Term life insurance coverage is very affordable for younger adults. As the name would imply, the coverage is in place for a particular term, and the premium does not rise during that interim. The policy has no cash value if the insured individual does not pass away during the term, but it can provide a great deal of peace of mind for young families.
This was just one type of life insurance protection that Kelly Insurance Agency can obtain for clients, but there are others. They provide personalized attention to each person that they serve, making sure their clients understand all of their options and can make fully informed decisions.