COVID-19 is a nasty virus that anybody can catch at any time. In the last year we have been told this everyday, yet this vicious virus continues to impact our country.
We are now a year into this global pandemic and are starting to “Get our arms around this virus”. This is due in part to advances in science and technology which produced the vaccines in a matter of months. Changes in lifestyle and social behaviors have also helped us get a grasp on this virus. The past year has shown the true resilience of not only our local Reno community but also the world.
COVID 19 is Now the Leading Cause of Death in USA
Our country has reached a grime milestone, we have surpassed 500,000 COVID deaths. COVID has become the leading cause of death in the USA.
These facts are quite shocking but also put into perspective the importance of life insurance and disability insurance. Do you have a financial protection plan in the event you or your loved ones become ill or die unexpectedly?
Will Your Current Life Insurance Plan Cover the Cost?
Only 59% of Americans have life insurance, and about half of those with insurance are underinsured, according to LIMRA. One problem is that nine million households just have group life insurance. That’s usually not enough.
According to NerdWallet’s 2020 household debts stats, the average U.S. household owes the following:
- Credit Cards (revolving): $7,027
- Mortgages: $190,595
- Auto Loans: $27,852
- Student Loans: $56,572
According to Lincoln Heritage, the average funeral costs range from $7,000 to $12,000.
Does your current life insurance plan cover the amounts listed and also funeral/burial costs? If you don’t have an adequate life insurance policy or none at all, your family will be left having to pay for these costs. The last thing you want your family to do is stress about how they’re going to pay off any debts, let alone the cost for your funeral.
Make Sure You Have a Sound Safety Net
If you came down with COVID-19 or any of the “Leading Causes” of deaths and passed away in the next two weeks. WHO and HOW are your:
- Bills and debit going to get paid
- If you’re married, how is your spouse or significant other going to financially manage without your paycheck or unemployment or other sources of income coming in to pay the rent, put groceries on the table and keep the utilities turned on, pay the car payment and other credit card debits.
What if you only got sick and tried to go back to work after recovering from COVID 19 but couldn’t make it through the workday because of the after effects of the COVID-19.
Do you have the financial resources on your own to cover for the time you’ve missed work?
Nearly two-thirds of Americans, 63%, say they’ve been living paycheck to paycheck since the COVID19 pandemic hit the U.S. last year. COVID-19 has no boundaries, it can affect those that are financially sound or financially insecure.
Maybe you’re not in the high risk category for COVID and are wondering why you should even invest in life insurance. You can be in the best shape of your life or just starting your life, but can get into a car accident or any other life altering event. No matter where you are in your life, make sure that you have the right life insurance coverage to make sure your loved ones are financially secure.
Work With the Best Life and Health Insurance Agency in Northern Nevada
Now is the time to act, instead of reacting when things go array. Our agents at Nevada Silver Life and Health Insurance are here to help you determine the right life insurance plan. We are located in Reno,NV but serve Northern Nevada, and are the only Nevada Health Link Preferred Broker in Northern Nevada. With our Reno-Tahoe community growing and becoming more diverse, we do have Spanish speaking agents. Contact us today at 775-829-1221 for quotes on health insurance, life insurance and income protection/disability insurance coverage.