What Stops People From Purchasing Life Insurance?

Stacy Young Insurance Agent

Life insurance. We all know it’s important, that’s why nearly 60% of us have it. But why are some people still holding back? Many reasons really. When we are young, healthy and our rates would be lowest we don’t feel like we have anything to protect and we feel invincible. We don’t understand the investment we could be making in our future. Many without insurance don’t have families so they feel like they don’t need to bother. Who will be stuck with their final expenses? Their parents or siblings? Do they really want to leave that burden to them?

Life insurance can be confusing. What kind should I purchase? Do I need basic, term, whole life or Universal life? How much do I need? I already have a group life policy through my employer do I really need more? All the more reason to find an agent you trust to walk you through the process and answer your questions.

Some people simply don’t purchase life insurance because of superstition or they simply don’t want to think about their own mortality. Sadly, no one escapes this life alive. Better to get your affairs in order than to leave a financial burden for your loved ones.

Many of us say “I’ll get to it, eventually.” We don’t feel an urgency about making a purchase that does not show immediate results. We are after all an instant gratification society. It is not a priority so it gets put on the back burner. We never feel our health will fail or an accident will occur making it necessary for our loved ones to utilize a policy we will never see the benefit of.  

As we get older and begin to feel like we have something to protect our rates increase. Then we feel like we have to decide between keeping the four walls up and paying for life insurance. Often we talk ourselves out of buying life insurance saying “I can’t afford it”. The real truth of the matter is, you can’t afford not to. Don’t wait until it is too late.

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