Five Reasons Spring Can Be the Best Time to Get Life Insurance
We’re all familiar with the practice of spring cleaning. When this time of year rolls around, we take the time to clean, declutter, and check items off our to-do list. Spring cleaning can extend beyond chores around the house, though. It can also be a beneficial time to assess your finances and plan for your loved ones’ future, and that’s where life insurance comes in.
At SelectQuote, we help people find the right life insurance for their needs at any time of year. However, there are several reasons why spring is a great time to tackle the life insurance shopping process. Read on to learn more about the benefits of buying life insurance during the spring season and how SelectQuote can help you compare coverage from trusted carriers and even qualify for same-day coverage at less than $1/day—no medical exam required.
1. Spring is for Fresh Starts
Spring is a time of renewal, growth, and fresh starts. This means it’s a great time to tackle organizational projects, including getting life insurance. As you review your coverage needs, you’ll be more informed to make decisions about life insurance, including having a greater understanding of the assets and people you need to protect. However, we know it can be an overwhelming process, and we’re here to make it easier by helping you sort through all your options.
One option is term life insurance, a popular policy type due to its flexibility and affordability. Term life insurance is designed to only last as long as you need it, with common term lengths ranging from 10 to 30 years. You can choose the term that makes the most sense for your short- and long-term financial goals, like paying down debt, paying off a mortgage, or putting children through school. Securing term life insurance coverage this spring can help you enter the busy summer season with peace of mind knowing your loved ones are protected.
2. Get a Jumpstart on Spring Cleaning Your Finances
Spring isn’t just for cleaning out your closets and deep cleaning your home. It can be a time to take a look at your whole financial situation and ensure you have everything in order. Take the opportunity to check life insurance off your to-do list early in the year. SelectQuote makes it easy by taking the time to learn about your financial situation and your coverage goals. We’ll then help you compare life insurance quotes from trusted, highly-rated carriers, so you can understand how life insurance payments will fit into your financial plan. Once you find the right policy, we’ll also guide you through the application process, including determining if you’re eligible for policies that cost less than $1/day and don’t require a medical exam. With our help, you can spring clean your finances with confidence that you have the right amount of coverage at a price that works for your budget.
3. Tax Season is Just Around the Corner
While tax season may not be your favorite part of the spring season, it offers a good opportunity to evaluate your investments and assets, ensuring your portfolio is balanced and protected. Deciding on a life insurance policy type can help make this process easier. The two main types of coverage are term life insurance and permanent life insurance.
Term policies are an affordable way to ensure not only your loved ones are protected financially, but also that your assets and investments are protected, too. Because you can pick the term that is best suited for your financial obligations, you can easily plan for your loved ones’ financial future.
Permanent life insurance, on the other hand, is intended to last your entire lifetime as long as premiums are paid. The main difference between permanent and term policies is that permanent policies typically include a cash value component, which grows on a tax-deferred basis. This means you can accumulate the cash value over time without being taxed on the growth, providing an opportunity for tax-advantaged savings. You could also take out loans against the cash value of your life insurance policy without triggering immediate tax consequences. Understanding the tax advantages of life insurance can help you navigate tax season with greater ease and preparedness.
4. Major Life Changes Are on the Horizon
The change of the seasons brings about more than warmer weather. This time of year is also the beginning of peak wedding and home-buying season. If you’re experiencing one of these major life changes, or someone you love is, it's a great time to consider the importance of life insurance.
In addition to major life changes such as getting married or purchasing a home, here are some additional reasons why securing life insurance can be important.
Growing your family
Salary changes
Marital changes
Acquiring new investments or assets
Having the right life insurance policy will make sure you’re prepared for all the changes the spring season brings.
5. Take Advantage of the Downtime of the Season
Spring can serve as the pause between two busy seasons. The excitement of the New Year is winding down, but the busyness of summer is on the horizon. Take advantage of this downtime to focus on major tasks like securing life insurance. Luckily, we can help make this process quick and easy. We offer same-day life insurance with no medical exam and have even helped find customers $500,000 in coverage for as little as $14/month. Our experienced agents will do all of the heavy lifting for you, so you’ll have more time to spend with loved ones and plan for the coming months.
Let SelectQuote Help you Find Life Insurance This Spring
If you’re ready to protect your loved ones with life insurance, we can help. We have nearly 40 years of experience helping families find the right coverage for their needs, and we’ll make the process quick and easy by doing the shopping and quote comparison on your behalf. Don’t wait till next season to get your loved ones the protection they need—reach out to us today to get started.
