• Home
  • About
    Us
    • Our Insurance Carriers
    • – About Norris Agency
    • Insurance Blog
  • Auto, Home &
    Personal Insurance
    • Auto Insurance
    • Homeowners Insurance
    • Personal Umbrella Insurance
    • Renters Insurance
    • – View All Personal
  • Business
    Insurance
    • Business Owners Package Insurance
    • Commercial Auto Insurance
    • Garage Insurance
    • – View All Business
  • Life
    Insurance
    • Individual Life Insurance
    • – View All Life
  • Policy
    Service Center
    • Online Billing & Payments
    • File A Claim
    • Certificate of Insurance Request
    • Policy Change Request Form
    • Auto ID Card Request Form
    • Insurance Resources
    • – View All Policy Service Center
  • Contact
    Us
    • Garner Office
    • Secure Contact Form
Garner, North Carolina Insurance

Insuring Garner And
All of North Carolina
Call (919) 661-0804

Home / Don’t Let These 6 Reasons Hold You Back From Buying Life Insurance

Don’t Let These 6 Reasons Hold You Back From Buying Life Insurance

Article originally posted April 1, 2020 on www.erieinsurance.com(opens in new tab)

Father and son

Update: Talk to your local agent to request a contact-free life insurance quote. For a limited time, we are waiving the requirement of a paramedical exam in light of CDC guidance to maintain social distancing and prevent the spread of COVID-19.

What are the real reasons holding you back from getting life insurance*? Are you like the majority of Americans who don’t have it, but say that they know they need it?

A study from Life Happens and the financial and insurance organization LIMRA shows that while 85 percent of study respondents agree that most people need life insurance, only 59 percent say they have life insurance.

Does this ring true for you? If so, maybe it’s because of one of these reasons.

1. It’s too expensive. Cost is the number one reason people don’t have life insurance. The same study shows that consumers tend to overestimate the price of life insurance. For instance, when asked how much a $250,000 term life insurance policy would be for a healthy 30-year-old, the median estimate was $500 annually—more than three times the actual cost. Life insurance is probably more affordable than you think—and there are lots of ways to bring the price into your comfort zone.

2. I have a health condition. The good news is that having a health condition doesn’t automatically disqualify you from getting life insurance. If you overcame a serious condition in the past or if you are managing a condition with the help of a medical professional, you can still be covered.

3. I don’t have any kids. There are many reasons people with no children still need life insurance. Just a few include providing for a financially dependent spouse or another family member, having the money to pay for a funeral or being able to pay off a loan that has a cosigner. Life insurance can also help you leave a gift to a religious, educational, or charitable organization near and dear to your heart.

When you purchase life insurance, consider adding a Guaranteed Insurability Option rider** which lets you increase your protection in the future, when you may have children or other reasons to increase coverage. By purchasing the Guaranteed Insurability Option rider with your initial Erie Family Life policy, you’ll be able to increase your life insurance coverage over time without having to answer medical underwriting questions.

4. I don’t work outside of the home. If you stay home to care for kids or other family members, it may take hiring someone to replace all that you do. And that could be pricey, so definitely consider buying life insurance as a way to cover those additional expenses.

5. I’m not sure what I need. Most people don’t—but your Erie Insurance agent advisor is there to help you. Erie Family Life offers options like term insurance that’s designed to last for a specific period of time and permanent plans designed to last a lifetime. Your agent can recommend one that works with your life and budget. You can also get an idea of how much life insurance you need by using our handy life insurance calculator.

6. I don’t have the time. Life is busy, which is why Erie Family Life offers e-signature on life insurance policies to make the process easy and convenient. You can also consider ERIE LifeSense®, which can provide up to $90,000 worth of coverage in about 15 minutes. There are no doctor’s visits or complicated forms—just a simple application with only a few medical questions.

Life insurance probably isn’t something you want to talk about, but it really is too important to put off. Your Erie Insurance agent can make the conversation about protecting the people that matter most as easy as possible. When it comes to life insurance, the only wrong choice is doing nothing at all.

*Life insurance and annuity products are not available in New York.

**Guaranteed Insurability Option subject to underwriting approval. Not available on all plans. Issue ages 0—40. See your agent for rider specifics, availability, terms and conditions. Additional cost applies.

Erie Insurance

A better insurance experience starts with ERIE.

Haven’t heard of us? Erie Insurance started with humble beginnings in 1925 with a mission to emphasize customer service above all else. Though we’ve grown to reach the Fortune 500 list, we still haven’t lost the human touch.

Contact Norris Agency, Inc. today to experience the ERIE difference for yourself.

Filed Under: Uncategorized

Insurance Quotes

  • This field is for validation purposes and should be left unchanged.

ABOUT US

  • About Us
  • Our Insurance Carriers
  • Insurance Blog

INSURANCE

  • Auto, Home, & Personal Insurance
  • Business Insurance
  • Life Insurance

POLICY SERVICE

  • Policy Service Center
  • File A Claim
  • Online Billing & Payments
  • Policy Change Request

Contact Us

Norris Agency, Inc.
  • 270 New Fidelity Court
  • Garner, North Carolina 27529

Phone: (919) 661-0804

270 New Fidelity Court, , Garner, North Carolina 27529
Google Maps (opens in new tab)
Norris Agency, Inc. Provides Auto/Car Insurance, Homeowners Insurance, Business/Commercial Insurance, and Life Insurance to All of North Carolina, Including Garner, Raleigh, Cary, Clayton, and Fuquay Varina.
© Copyright 2023, Norris Agency, Inc. | Privacy Statement | Accessibility Statement | Login
BrightFireInsurance Websites(opens in new tab)