Life insurance is a waste of money when you have learned to defy death. If you have not figured out how not to die, you should buy life insurance. Life insurance is one of the most affordable insurance products on the market. More affordable than insuring your car, your cell phone and certainly your health. Sadly more young people under the age of 30 years old have their cell phones insured than their lives. Do the math…

To insure your cell phone on average costs about $10 per month. The average life of a cell phone is about two years. Therefore, a person is willing to pay $240 in premiums to cover an actual loss recovery of about $500 after deductible for two years. The same healthy 25 year old female can spend about the same $10 per month, $11.52 to be exact, guaranteed for 30 years to age 55, and purchase $100,000 in life insurance. This makes the risk ratio on a cell phone .48 cents on the dollar per two years versus life risk ratio of .04 cents on the dollar per 30 years. Feel silly yet? You should by now.

The old expression “there are only two guarantees in life, death and taxes” is very true. There is no guarantee to run over your cell phone with your car or drop it in the toilet, but we will all die someday. Everyone insures their house even though the risk is extremely low to be destroyed by a storm, flood or fire. Why would anyone not think to purchase life insurance knowing we are all going to die someday?

According to Life Insurance and Market Research Association or LIMRAs research, over 30% of US households do not have life insurance. A staggering 55% of US households or 58 million people admit they do not have enough life insurance and need more.  Not only are average US families not buying enough life insurance but those households that do have life insurance have had their face amounts decrease over $30,000 average since 2004. The most alarming number comes from a survey stating that 70% of US admit they would have serious financial problems if the primary breadwinner were to die within just a few months including 30% of households admitting their problem would be immediate. Yet pennies to dollars life insurance is the most affordable insurance product a person can buy while they are healthy.

Care more about the loved ones in your life than your smart phone. Insure your most precious asset, YOU! Don’t leave your loved ones, business partners or people you care about in a financial mess when the time comes. Take care of this issue today before it is too late.

“Life Insurance, because dying sucks, don’t do it for free”—Tim Wilhoit, Agency Owner Your Friend 4 Life

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Tim Wilhoit is owner/principal of Your Friend 4 Life Insurance Agency in Nashville, TN. He is a family man, father of 3, entrepreneur, insurance agent, life insurance broker, salesman, sales trainer, recruiter, public speaker, blogger, author and team leader with over 28 years of experience in sales and marketing in the insurance and beverage industries.