SEATTLE, Wash. - ‘Stuff happens’…You’ve likely heard the phrase before, in one form or another, and nothing could be closer to the truth when it comes to everyday life. We talk a lot about home insurance, car insurance, business insurance - all equally important for protecting the things that matter most in your life - but what about the people who matter most? What are you doing to make sure they are protected should something happen?

Why Do I Need Life Insurance?

It’s a question I hear a lot. Quite often, couples brush off life insurance, thinking ‘That’s something mom and dad need to worry about – not me’. But, what would happen without your income? Who would help take care of your family or your business?

Life insurance isn’t a topic most people want to think about let alone talk about but there are misconceptions surrounding what it is, what it does, how much it costs – and it’s important to separate fact from fiction so you can understand what you and your family need.

The Facts of Life…Insurance

As time goes by and our list of life changing events grows our needs in regards to insurance change too. When you buy a bigger house you adjust your insurance to ensure you have enough protection and coverage – the same should hold true when you experience certain life events.

Have you recently purchased a home, welcomed a baby to the family, have a child attending college, or suffered a loss? Each of these things can happen at any time and when they do there is no better time to start thinking about your family’s future and what would happen if they lost your income.

What is Life Insurance?

When I talk to clients about life insurance, three questions usually always come up:

• How can I make sure my wife/husband can pay off existing debt?
• What do I need to do to ensure my child/children can attend college?
• Will my family be able to afford the same lifestyle they’ve come to know and love?

With these three questions in mind, ask yourself – Do you have a plan in place to protect your family when you’re gone? If you provide financial security for a loved one, your family, or your business, life insurance can help offset certain costs if something happens to you.

Life Insurance can:

• Help pay for funeral costs
• Pay bills and living expenses, including debt, credit cards, and house payments
• Keep the family business open
• Pay for your child’s college tuition

Who Needs Life Insurance?

When it comes to life insurance there really are no exclusions. If you’re married, married with kids, a single parent, a parent with grown children, a business owner, retiree, or single adult - anyone with financial obligations can benefit from life insurance.

What It Costs?

One of the biggest reasons people tell me they don’t have life insurance is money. They think it’s simply too expensive to afford, so what’s the point? In fact, according to one survey, 86% of people said they don’t have life insurance for this very reason but they actually overestimate its cost by more than two times.

How much life insurance costs depends on how much protection you need or want –and that’s dependent on a number of factors, including your age, your health, and your income, to name a few.

Life Happens, a nonprofit organization focused on educating consumers about life, health, and disability insurance, breaks down the cost of $250,000 in coverage for a healthy 30-year-old to around $12 a month – as much as you might pay for three lattes. Life insurance prices continue to drop and it's never been more affordable to protect your family's future while providing peace of mind.

If life insurance is something you’ve considered but aren't sure where to start I recommend talking with an independent agent who understands the ins and outs of it. As we all know, life happens – being properly protected can make things a lot easier for you and your loved ones.