Starting a family brings joy and many first-time experiences—like shared holidays, a new home and the blessing of children. With every milestone comes new responsibilities. Between busy schedules and big dreams, it’s easy to put off thoughts of needing to “do more” to protect your family’s financial future. In addition, you simply may not have a good understanding of financial planning. That alone can make it hard to feel confident in the future.
1. Why Life Insurance Matters
One way young families can feel financially secure is through the purchase of life insurance. Contrary to what many young adults believe, life insurance isn’t for later in life, it’s for right now. It ensures that if the unthinkable happens, your family has the financial means to grieve, recover and move forward.
Unfortunately, many young families don’t realize how important life insurance is until a GoFundMe post
shows up on social media appealing for donations to help support a family after the tragic loss of a loved one. That’s when many realize that a fundraiser is a poor substitute for life insurance. Chances are high that without life insurance, the family will struggle to keep their home, pay the bills and pursue dreams for the future.
2. Overcoming Obstacles
The number one reason young adults don’t have life insurance is the misconception that it’s unaffordable. Yet, studies conducted since 2011 have consistently shown that consumers overestimate the cost of life insurance. 1 For most young and healthy adults, life insurance is affordable and can cost less than what most pay for an online streaming subscription or coffee every month!2
Another obstacle is lack of knowledge concerning different life insurance options. Guidance from a friendly Advisor can help you find a plan that fits your life for today and tomorrow: whether its term life insurance
that offers budget-friendly protection for a set period of time or whole life insurance that offers a lifetime of permanent protection.
3. The Cost of Waiting
Thinking about life insurance can bring up the uncomfortable “what-ifs” most people would prefer to avoid. Or the other extreme is living in a state of denial that the unexpected won’t happen anytime soon. Neither scenario plays out well for your family when no plan is in place to financially care for them.
4. A More Confident Future Starts Today
Yes, you’re busy, but getting started is easy. You won’t regret spending an hour with an Advisor to secure a financial future for your loved ones with a policy that fits your family’s budget. Once you have a life insurance policy in place, you can feel confidently at peace instead of continually unsure about whether you’ve done enough to protect your family.
Catholic Financial Life has helped generations of families to protect what matters most. Our Advisors will help
you understand your options, work with your budget, and guide you forward so you feel secure about your family’s financial future.
Contact your advisor today or call (800) 965-2547.
1 LIMRA, Life Insurance Awareness Month: A Time to Help More Consumers Get the Life Insurance Coverage They Say They Need, September 2024
2 Based on the $19.58 monthly premium for a 30-year-old female with standard rates on a $250,000 face amount Trusted Fraternal Life 20-year term policy. ICC20 TRM (30)