American consumers top financial concerns are having enough money for a comfortable retirement and savings for emergencies.1 What if we told you their fourth financial concern, life insurance, had the potential to solve for the first two? Let’s take a look at some reasons to LOVE life insurance and what it could do for you.

L – Low cost
Many don’t realize that life insurance doesn’t have to break the bank—there’s a policy out there that can fit your financial situation. Did you know that the average annual cost for certain term life insurance policies is around $200?2 While affordability is important when considering life insurance, it’s also important to look beyond the price. What benefits does this policy include? How can it help me financially in the long term?
O – Options
That’s why a policy with flexibility can be important. We know our clients have individual needs and financial goals. And, as your life changes, your needs may change as well. Many life insurance policies have different features such as living benefits5, cash value growth potential, and benefits you can use while you’re alive that may fit your unique life needs.
V – Various life stages
As you go through the different stages of life, your financial needs and goals can change. Whether you’re graduating college, getting married, buying a house, starting a family, or planning for retirement, all of these momentous occasions require more financial responsibility. Life insurance can walk alongside life with you and help you during these special milestones.
E – Extra protection
Studies of cancer survivors have suggested that some survivors spend around 20%3 of their annual income on medical care. Furthermore, some survivors have to use savings to finance medical expenses and between 2% and 34% have borrowed money to pay for their care or have medical debt.4 While the main benefit of life insurance is death benefit protection it provides, many policies also come with living benefits5, which may be used for a variety of expenses—including covering the costs of a major medical illness. Contact your North American agent to learn more about what a life insurance policy can do for you today.
1Source: 2019 Insurance Barometer Report, LIMRA. Accessed January 2020.
2 Source: LifeHappens, https://lifehappens.org/life-insurance-101/what-is-the-average-life-insurance-cost/
3,4 PDQ® Adult Treatment Editorial Board. PDQ Financial Toxicity and Cancer Treatment. Bethesda, MD: National Cancer Institute. Updated May 29,2024. Available at: https://www.cancer.gov/about-cancer/managing-care/track-care-costs/financial-toxicity-hp-pdq. Accessed January 1, 2025
5Accelerated Death Benefits are subject to eligibility requirements.
Insurance products issued by Midland National, West Des Moines. IA. Product and features/options may not be available in all states or appropriate for all clients. See product materials for further details, specific features/options and limitations by product and state.
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