BeamaLife Blog

According to the MIB Life Index, life insurance applications in the U. S. are on the rise, with November showing some of the biggest increases in the last two years.  That’s a good thing for the life insurance business, of course, but it points to some very good things that are happening in the economy – and it points out an important lesson that every generation seems to need to learn again as if for the first time.

The MIB numbers showed that for November 2009, non-group life insurance applications rose 4.1% over the same time period last year.  The numbers themselves point to the fact that in general Americans are being freer with their money and are still very much aware that a big part of a family’s financial security depends on having adequate life insurance. Taking the numbers apart, however, reveals something that never seems to change.

The largest increase in individually-underwritten life insurance applications came in the 60+ age group – 18.8%, while the lowest increase – 0% – came from those who are 44 or younger.  The 45 – 49 age group also increased by 6.7%.  Why is it that the younger people – those who have young families, of course, but even those who are single – seem the least likely to have the life insurance they need?

There are a number of reasons.  Perhaps they think that their income levels are not high enough to support a quality life insurance policy.  Or maybe they think that because they get a small amount of life insurance from their employer, they have no need for anything more permanent.  Certainly these young people with relatively few assets are not a “target” for financial services professionals who work on commissions.

These are just some of the reasons that my colleagues and I built BeamaLife.com.  We want to dispel the myths that you can’t afford the insurance you need, that your employer-paid life insurance is enough, that as a single person, you don’t need life insurance.  If you are a business owner, or work for someone else, or if you’re a freelance or contractor – even if you’re a homemaker raising children and taking care of your family.  There is a solution out there, and you don’t have to look very far to find it! Call (866) 972-3262 for term life rates & life insurance quotes or complete life insurance quote request now.