Starting a family brings joy and many first-time experiences—shared holidays, a new home, and the blessing of children. With every milestone comes new responsibilities. Between busy schedules and big dreams, it’s easy to put off thoughts of doing more to protect your family’s financial future.
Why Life Insurance Matters
One way young families can feel financially secure is through the purchase of life insurance. Contrary to what many young adults believe, life insurance isn’t for later in life, it’s for right now. It ensures that if the unthinkable happens, your family has the financial means to grieve, recover, and move forward. Chances are high that without life insurance, the family would struggle to keep their home, pay the bills and pursue dreams for the future.
Unfortunately, many young people don’t realize how important life insurance is until a GoFundMe post from a friend shows up on social media, appealing for donations to help pay for a loved one’s funeral. A fundraiser is a poor substitute for life insurance.
Overcoming Obstacles
The number one reason young adults don’t have life insurance is the misconception that it’s unaffordable. Yet, studies conducted since 2011 have consistently shown that consumers overestimate the cost of life insurance.1 For most young and healthy adults, life insurance can cost less than an online streaming subscription or a date night out for dinner and a movie!2
Another obstacle is a lack of knowledge concerning different life insurance options. Guidance from a friendly Member Advisor can help a young adult find a plan that fits life today and tomorrow. Whether it’s term life insurance that offers budget-friendly protection for a set period of time, or whole life insurance that offers a lifetime of permanent protection.
Thinking about life insurance can bring up the uncomfortable “what-ifs” most people would prefer to avoid. Or, the other extreme is living in a state of denial that the unexpected won’t happen. Neither scenario plays out well for your family when no plan is in place to financially care for them.
A More Confident Future Starts Today
Yes, you’re busy, but getting started is easy. You won’t regret spending an hour with a Member Advisor to secure a financial future for your loved ones with a policy that fits your family’s budget. Once you have life insurance in place, you can feel confident and at peace instead of continually unsure about whether you’ve done enough to protect your family.
Catholic United Financial has helped generations of families to protect what matters most. Our Member Advisors will help you understand your options, work with your budget, and guide you forward so you feel secure about your family’s financial future.
Find an Advisor at catholicunitedfinancial.org/rep-finder or call (800) 568-6670.
1 LIMRA https://www.limra.com/en/newsroom/industry-trends/2024/life-insurance-awareness-month-a-time-to-help-more-consumers-get-the-life-insurance-coverage-they-say-they-need/
2 $250,000 coverage for $19.58 a month based on a 30-year-old female, second best rating, 20-year term policy. Final pricing and coverage limits determined by underwriting guidelines.
