(StatePoint) If weâve learned anything from 2020, itâs that life can be unpredictable. Having sufficient life insurance can provide financial stability and security to loved ones during times of uncertainty.
Forty-one million Americans say they need life insurance but donât have it, according to LIMRAâs 2020 Insurance Barometer Study. Others are insured but donât have enough coverage. If this describes you, your spouse or children could find themselves in a financial lurch, expected to pay off debts, loans and final expenses when you die, especially if youâre the main source of income.
âHaving insurance isnât just about financial protection,â says Louis Colaizzo, senior vice president of Erie Family Life. âIt also helps maintain some sense of normalcy for family members. Kids can continue their extracurricular activities, partners can maintain their lifestyle and families can stay in the home they know and love.â