One of the best and easiest ways to do this is to purchase a life insurance policy. Life insurance is not for people who are dying, but for people who are living. Life insurance guarantees that your loved ones will be protected in any situation.
Regardless of any economic shocks, each person seeks to accumulate and preserve capital, invest money profitably and receive additional income from investments. At the end of the term of the endowment insurance agreement, the payment of money formed from the client's insurance premiums is provided. It should be noted though that you will never be younger than today.
People overestimate the cost of life insurance. According to the Insurance Barometer study, the Americans believe that life insurance costs three times what it is. The average cost of a term life insurance policy for a 30-year-old is $16 per month. If you buy a policy at the age of 40, you can expect to pay $22 per month.
According to Life Happens' recent poll "Tough Negotiations During COVID-19," half (49%) of respondents have agreed that it is very important to have open conversations with their partners and families about their financial future. Besides, it helped two-thirds (66%) of Americans understand the value of life insurance better, and another quarter (25%) acquired coverage for the first time.
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