Barrick & Associates, Inc.


Text 717-259-2262

1401 Baltimore Street

Hanover, PA 17331

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Life is always changing and usually gets more complicated, especially once you get married and possibly start a family. The weight of responsibility can get pretty heavy at times, especially thinking about what the future could bring. What would happen to your family if you were to die tomorrow? How would the house, car, loans, or credit cards be paid for? Could your spouse afford all of that on their own salary? Your spouse would be dealing not only the sadness of losing you but also the financial burden. That can be a difficult thought to ponder and a tough discussion to have. Life Insurance is a great way to relieve some of that stress now.

Why Consider Life Insurance

It is important to question if your family could continue living the same lifestyle should something happen to you. Would your spouse be able to afford to pay all of the bills alone? If not, the results could be devastating to your family. Although many people understand the importance of Life Insurance, about 43% of people still do not have a policy. The business of daily life and busy schedules can easily push purchasing life insurance aside. Usually a big life event like marriage, having children, or starting a business can motivate people to buckle down and purchase a plan. If you have children and do not have life insurance, you are putting your entire family in jeopardy. Even if you are single, any debt you have will usually be passed on to your next to kin. If you have student loans for example, your parents may end up responsible for the outstanding debt. Do your family a favor and do not put that burden on them.

When is a Good Time to Purchase Life Insurance?

Life Insurance may not seem as important when you are single and childless. However, once you pop the question or a child is on the way Life Insurance becomes vitally important. This is especially true if one parent cuts down on work hours or quits working altogether. Life changing events that should prompt you to look into Life Insurance include:
  • Having a large amount of debt in student loans
  • Being Engaged or Married
  • Buying a house
  • Starting a Business
  • Having a Child
  • Going Into Retirement
It is also good to keep in mind that rates are usually cheaper when you are young and relatively healthy. The older you get along with any health issues that may arise, a policy will become more expensive. Some may wonder how they can afford the extra payment for life insurance, especially during times when money is tight. The good news is that Life Insurance is usually inexpensive and affordable! Millennials in particular tend to way overestimate the cost. Talking to a licensed insurance agent will give you an idea of what a policy would cost for you. Even if you have Life Insurance already, it is good to review the policy every year due to changing circumstances. Call Barrick Insurance to talk to one of our licensed agents or our financial advisor about Life Insurance for you and your family.