Life Insurance Sales Decline
According to the insurance market research associations, policy sales fluctuate in single digit percentages each year. in 2016 alone over 290 million policies were in effect compared to the drop of about 2 million in 2017. This anomaly of a drop in policy holders has not had a decrease since its steady rise in 2012. Economics, health tech, birth rates and better health all play a role in its decline as well as the knowledge of why needing a policy is important.
Why Life Insurance Is Important
Without knowing the need and ability of insurance most people in the 0-44 age group do not see the benefits. Insurance does not stop at death benefits and the different types available can protect your families financial well being. Insurance can be used as access to cash, asset protection, a safe way to accumulate and most importantly flexibility.
Benefits For The Youth
If you’re in that 0-44 range there are a few reasons why you should look into purchasing a plan. Do you have someone who depends on you for financial backing? Insurance can help you with that. Do you tend to have a habit of dipping into your savings or even starting one? Life insurance forces you to put money aside in a personal savings fund. Think you can’t afford life insurance? The earlier you purchase the plan the cheaper it will be in the long run due to being young and healthy. Insurance can also help cover funeral expenses so in an unfortunate event your loved ones won’t be caught off guard with the bill.
Times To Buy
There are times when you will want to buy life insurance. One might be when a newborn comes into your life. Just got married? Its time to have protection for you and your spouse. You might even find yourself wondering about life ins when someone close to you dies and prompts the need to want everyone to be taken care of. Whatever your reason for buying, insurance is something you want now!
Long-Term Value and Peace of Mind
Beyond basic financial protection, life insurance offers long-term benefits, giving you and your family peace of mind. As your career advances, your income grows, and you accumulate responsibilities—such as a mortgage, college savings, or caring for aging parents—life insurance becomes a cornerstone of wise financial planning. A well-structured policy can help ensure that your family doesn’t have to make major sacrifices, such as selling a home or draining savings to stay afloat after a loss.
Life insurance is also useful for estate planning. Permanent policies can assist surviving families by covering estate taxes or help you leave behind a financial legacy for children, grandchildren, or charitable causes. For business owners, life insurance plays a critical role in succession planning and can help provide stability during periods of transition or unexpected loss.
Moreover, some policies offer living benefits, which means access to funds while you remain alive. Whether this avenue is through policy loans, long-term care riders, or accelerated death benefits, this benefit can provide additional financial tools to help you manage emergencies, medical expenses, or supplement retirement income.
Ultimately, the right time to buy life insurance is before you think you need it. As you age or develop health conditions, coverage becomes more expensive or even unavailable. By taking action early, you protect your future and build a financial foundation that supports your goals and safeguards your loved ones through every stage of life.
Life Insurance Questions?
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This article was updated on July 3, 2025.