When most consumers analyze why they should buy insurance coverage, they often focus on protecting their tangible items, such as their homes or possessions. They may be acutely aware of the value, or cost of replacing those items in the event of a loss. In contrast, other types of risk, like loss of life, may be more seem challenging to address. People naturally avoid thinking about how their lives would be affected in the event of the loss of a loved one, because their analysis can be clouded by emotion. However, a death in the family can cause the temporary or permanent loss of financial security necessary to meet living expenses in the household. Loss of the person financially responsible for the support of others can be disastrous, if there is no loss mitigation strategy in place. For this reason, prudent individuals acquire some form of life insurance as an essential component of their families’ financial plans.

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