Life Insurance used to be largely talked about as a way to protect a spouse from financial impact due to the major breadwinner passing. In recent times, life insurance attention seems to have shifted to educating about financial protection issues that arise when spouses separate or divorce. People are living longer and divorce rates remain relatively high, but married couples still have a need for life insurance.
Why The Change?
The need for couples to have life insurance may have been more prominent in past eras when a majority of women did not work outside of the home and thus had little independent financial means. In the modern age, however, even with both genders working outside of the home regularly, it is still a prevalent issue. The researchers at New York Life discovered in a 2014 study that about 68% of widows and widowers reported significant life changes following the loss of a spouse. Financial changes were at the top of the list of struggles that widowers and widows faced, and many reported that they were struggling to make ends meet within the first year of their loss because their spouse did not have life insurance.
Protect Yourself And Your Spouse
Many people discover a need for life insurance too late. Couples particularly should plan ahead for every scenario and get a life insurance policy to avoid unnecessary complications or struggles in the event of a loss. Life insurance providers are well equipped to help with the kind of foresight that can make all the difference financially in the event of a loss.
Keep the need for life insurance in mind as you look to keep yourself and your loved ones secure. Contact Massive Insurance in Pasadena for all of your California insurance needs. Let us give you the protection you deserve.