Life Insurance 101

Posted by Daniel Lawrence on April, 2017

Life insurance is one of those things that everyone hears about, but few people actually understand. You must discover what it is and what it can do for you, then decide if it is an investment that you want to make for the future security of your family. As you look for life insurance in St. Augustine and the surrounding areas, here are some factors to consider in regards to the policies you will likely come across:

  • More than half of the families in the US say they still need to get some sort of life insurance coverage.
  • An estimated 80% of the population overestimate how much insurance could cost them and avoid getting it.
  • One out of four Americans who have life insurance say they feel they need more coverage to be secure.
  • The average amount of coverage the American family has from life insurance is $100,500!
  • Just over one-third of American families say they would be in financial trouble without their insurance.
  • Most individuals have less than three months of income saved aside for an emergency.
  • Medical expense is the number one leading cause for bankruptcy today in families.
  • Most people under 50 have over 100,000 dollars in mortgage, car, student loan, and credit card debt.
  • Anyone who has dependents needs life insurance to take care of final costs if they die suddenly.
  • The money from a life insurance policy can pay for funerals, the mortgage, college tuition, and more!
  • Life insurance is meant to help offset costs it is not an investment plan.
  • The two basic types of insurance are term or permanent and each has benefits and drawbacks.
  • Shop around for a life policy that fits your lifestyle and provides what you and your family needs.

If you’re looking for life insurance in St. Augustine, call St. Johns Farm Bureau today. Their experts can help you find the right plan that fits your needs.

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