Life insurance is one of those things you don't think about it until...you do.  The average 20 year old is probably not stressing the fact that he or she doesn't have life insurance.  Even some of your 30 years old still think 30's the new 20 in terms or responsibility.  In the interest of honesty in reporting, In my 20's, I was much more concerned with the threatening hair loss that continued unabated during that decade.  So I made it to the other side (both in terms of getting term life insurance and losing my hair) but it was primarily due to the same reason most people step up to the plate and make the purchase.  The Big 4.  Let's talk a little about the 4 big drivers which push people kicking and screaming into maturity and responsibility.

The first is Family.  This can be a new spouse and/or a new baby.  All of a sudden, it's not just you anymore.  If something happens to you and more specifically, your ability to earn income for you family, term life insurance becomes a critical piece of protection for your new loved ones.  This is probably the biggest reason for people to move forward and actually get the coverage.  Sometimes we just just need push or prod.  Other times, it requires something new, something old, and something blue. 

The second biggest reason for people to start the process of securing term life insurance is a new mortgage.  Term life is perfectly geared for a financial demand such as a mortgage since you can select a period of time to match the mortgage life and an amount to pay of the remaining mortgage.  The typical mortgage accounts for at least 1/3 of a family's monthly expense so you can see how addressing this expense with term life insurance would significantly reduce the burden of loved ones.

The third common need is to account for care of loved ones, particularly older parents.  If you're the sole provider of care for your elderly parents and something happens to you, term life insurance affords the ability to maintain adequate care for them.  As people live longer periods of time, this third reason is becoming more common and we foresee this continuing into the future. 

The fourth common reason to procure term life insurance is for your children's education.  What happens if you are to pass away as your kids approach college age.  College can run 10's of thousands of dollars these days and those numbers are only going up.  A quick shot of 5-10 term coverage to handle the costs of higher education can be very inexpensive and perfectly fit the bill.  It's quite depressing to see situations where older children have to postpone or curtail their college aspirations due to the loss of a parent.  It's hard enough to lose the parent much less to now have a financial burden you can't afford in order to continue or start college. 

These are big four reasons people usually come to us when needing term life insurance.  Of course, everyone' situation is different and your reasons are equally important.  Let us help you find the right policy to match.