Purchasing life insurance is often a difficult decision, and one that can seem irrelevant to the very people who need it most. In fact, young, healthy, working adults often have the most to gain from a life insurance policy, but selecting a policy can seem daunting—or of lesser importance than other investment and savings options.
Life insurance covers financial expenses in the event of the unexpected, protecting your loved ones with coverage that replaces lost income, eliminates debt and provides financial security for the future. But according to a nationwide study, 57% of respondents own a life insurance policy, and only 28% feel extremely confident in their understanding of life insurance.
Understanding the benefits of life insurance, and defining your personal goals, is the key to selecting a policy that is right for you.