Life Insurance Awareness Month – Part 4: Do You Value Your Car More Than Your Life?

BY Sagicor Life Posted September 29, 2017 In Life Insurance Awareness Month

As Life Insurance Awareness Month comes to an end, we hope you’ve given more thought to any potential gaps in your financial planning. This week, we’re going to talk about priorities.

Do you value your car more than your life? Before you say no, take a look at these statistics:

  • 79%of Americans have car insurance.
  • 67%of Americans have home insurance.
  • 55%of Americans have life insurance.

Cars and houses are expensive. Very expensive. That’s why people are willing to pay a little more to protect them. Of course, there’s other reasons to buy these types of insurance as well. If you want to drive your car, you’re legally required to have auto insurance. And if your car or house isn’t paid off yet, you’ll need the insurance to help pay off loans.

But car insurance isn’t just for yourself. It’s for everyone on the road. You get car insurance so that you can be accountable for how your driving might affect others.

8 in 10 Americans say family is most important to them. Only half have life insurance (55%) to protect them. Source: Insure Your Love Study 2017, Life Happens

 When you bought your car insurance coverage, you probably weren’t expecting to get into an accident any time soon. But you knew that it was always a possibility, so it made sense to have it just in case.

The thing is, life insurance works the same way. Instead of protecting strangers, however, it’s directly for the people you love and care for.

Maybe you do value your car over your life (it’s a REALLY nice car). But what about your children’s lives? Your parents’ and siblings’ lives? Do you value your car more than your family?

Just like with car insurance, you don’t get life insurance expecting to use it any time soon. And, with luck, you won’t have to. But it might make sense to have it, just in case.

Plus, as we covered in Part 1, life insurance can cost you only a fraction of what you pay for car insurance (about $13/month in that example). Curious about how much it might cost you? It takes about 5 seconds to use our quote calculator*.

Take a moment to consider your priorities. Are you protecting what’s important to you?

*Note: although the calculator is available to everyone at no obligation or cost, buying life insurance from SagicorNow is currently limited to residents of FL, AZ, and TX.

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