Sadly we all pass away, it is a fact of life. Do we leave our loved ones to suffer financially or do we provide for them. That is a stark choice that we have to face. This article provides 9 reasons why you should consider purchasing term life insurance.

Number 1: When you pass away, there is no safety net for your loved ones. You are gone, they are left with your debt and bills to pay.

Number 2: The average cost of a funeral is $7,000 – $10,000. It is the responsibility of the family to pay these parting costs and if there is no life insurance, it has to be found from somewhere.

Number 3: 85% of your fellow Americans agree they need life insurance, yet only 62% have any life cover at all. Source: LIMRA’s Life Insurance Barometer Study 2013

Number 4: In 2010 44% of households held individual life insurance, yet in 1960 it was 72%. Source: LIMRA’s Trends in Life Insurance Ownership study

Number 5: 40% of Americans who have life insurance don’t think they have enough coverage. Source: Genworth LifeJacket Study 2011

Number 6: It is possible to save up to 60% by comparing companies. It has never been easier to obtain a quote for term life insurance online. Ensure you obtain at least 3 quotes to be able to compare the costs.

Number 7: Term life is cheaper than whole life insurance. This is fact. Term life is based on a set term. At the end of the term the policy expires. Therefore it is ideal to cover mortgage or other debts.

Number 8: Pay the premiums annually. Providers offer significant discounts for annual premiums compared to monthly. This is because there is less overhead for them.

Number 9: Ensure you are in the best of health. Just because you are a smoker doesn’t mean that you will not get insurance, it maybe at a high rate than non smokers.

We all have choices, lets ensure we make the right ones and put our families first. Take the challenge and see how much you can save.