By Byron Udell
It was Father’s Day yesterday. Dads across the nation were treated to a special day. I should know. I have 3 of my own.
Father’s day is a wonderful opportunity to remind ourselves of the tremendous privilege and responsibility we have as fathers and of the gift of family. With that in mind, I want to ask you: do you have life insurance coverage? And if you do, are you sure you have enough coverage to meet your family’s needs?
You Know You Need It
According to LIMRA, “middle aged (35-54) married men are typically in their highest earning years and half are fathers. Yet, this group had double-digit decreases in the proportion owning individual life insurance from 2004-2010.” Life insurance provides peace of mind that’s worth its weight in gold. Just the knowledge that your family’s future is safe thanks to that policy will mean one less thing keeping you up at night.
Your Coverage Should Meet Your Family’s Needs
Most families who have life insurance don’t believe they have enough coverage. If you need help calculating how much coverage you need, use this life insurance needs calculator. Apart from replacement of income, debts and inflation, you may want to take into consideration your children’s college education or even a future wedding or two.
Life insurance needs change as you enter different phases of your life. Review your coverage at major life events such as the birth of children, buying a house, or venturing into a business.
You may be surprised to know that life insurance is not that expensive. Find out just how affordable it could be for you by getting a quote from top life insurance carriers.
Let this Father’s Day inspire you togive the love back. Make sure you’ve got a life insurance policy in place and coverage that sufficiently meets your family’s needs. It’s one of the most thoughtful and practical gifts you could give to your family.