life insuranceLife insurance is an important piece of financial planning that often goes over looked. For whatever reason you intend to get life insurance, knowing you should have it, but it gets pushed to the backburner.

Then someone you know passes away leaving his family with a large financial burden to be dealt with on top of the already painful grieving process. While life insurance doesn’t make the loss of a loved one any easier it would’ve alleviated the financial stress of an already tough time.

Nobody likes to face the thought of death. But death is inevitable, it’s a part of life. And it’s important to protect the people you love in the event that something happens to you.

If you’ve been putting off getting life insurance here are three powerful reasons that you need to find coverage now.

You Don’t Want Your Financial Burden to Pass on to Others

Do you have a mortgage? A car loan? Could your significant other carry the weight of these bills without you? Probably not.

In today’s age more and more families are likely to be two income households. Meaning if one income was to suddenly disappear the family would be strapped for cash. When you’re laid off you can supplement your income with unemployment compensation or find another job. But when you’re gone forever your significant other will be responsible for keeping up with regular bills.

You don’t want to leave a financial burden to the people you love the most. With an adequate amount of life insurance you can feel at peace knowing your loved ones won’t be financially burdened.

You Have Co-Signers on Your Debt

Normally, when you pass away your personal debt dies with you. This isn’t the case if you have cosigners on your debt.

The person who cosigned will be responsible for the loan balance in the event that something happens to you. Even if you’re not currently married or don’t have children, having a cosigner on your debt is a good reason to get coverage.

To protect your cosigner take out a life insurance policy for the amount of debt you currently have on the cosigned loan(s).

You Want to Leave Your Family with a Bright Financial Future

If you have kids or a spouse you can set them up for a bright financial future by securing life insurance. You can leave this world knowing that you’re setting your kids up with enough money for college expenses and leaving your spouse enough money to pay off the mortgage.

In fact, a recent study conducted by State Farm found that most Americans (84 percent) agree that life insurance is a smart way to care for their family’s future.

What Are You Waiting For?

Getting life insurance is a fairly straightforward process. If you’re in good health and are still relatively young the costs are very affordable.

Don’t procrastinate any longer. Pick up the phone and call your insurance agent or check out Good Neighbors for more information on life insurance.

You can’t afford to stay unprotected.

Disclosure: This blog post was written as part of a sponsored program for State Farm to raise awareness about the importance of life insurance. All views expressed are entirely my own, and were not influenced or directed by State Farm. You can learn more about this blogger program and life insurance at,, and by following #StartLiving on Twitter.

About Robert Farrington

Robert Farrington has written 77 articles on this site..

Robert Farrington is the founder and editor of The College Investor, a personal finance site dedicated to young adult and college student finances.