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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Fidelity Life: Why the Holidays Are a Great Time to Get Life Insurance

The holiday season is in full swing. That means cold weather, crowded stores, and lots of travel. But as many get caught up in the busy holiday weeks, they may not      realize that this time of year is an excellent time to buy life insurance.

Life insurance can help people feel financially safe and secure during the holidays, and despite the hustle and bustle, they may have some extra time to shop around. With that in mind, this article will explain in detail why people should consider getting a life insurance policy during the holidays.

1. Can ensure the policyholder has coverage to protect their family in the new year

The holidays can sometimes be stressful with shopping rushes and preparing for family gatherings. Life insurance can help alleviate some financial worries by ensuring the policyholder’s loved ones are protected during the holidays, into the new year, and beyond. This helps policyholders enjoy the holiday season with less stress and head into the new year feeling more financially secure.

2. It’s a great use of an unused travel budget

Many save up for holiday travel every year, but they don’t always end up using that budget. So, they could put these extra funds toward getting a life insurance policy.

Term life insurance may be an affordable option that the money from an unused travel budget could cover. Forbes found that the average term life insurance premiums for a 15-year, $500,000 policy are $240 per year for a 30-year-old male. So, a family with just $1,000 saved up could instantly pay for this policy’s coverage for four years.

3. It offers more time to shop around

One of the most vital parts of the life insurance process is to shop for quotes from multiple insurers, as prospective policyholders can compare costs and coverage. By comparing quotes, they can find the best rates on the life insurance coverage and policy features they need. The holidays are certainly a busy time. But if an applicant’s employer gives them a few days off, or they take a few days off themselves, they may have more time to shop around.

4. It can make an excellent gift for years on end

Permanent life insurance policies often cost more than term life insurance, but coverage lasts for life. Keeping loved ones financially secure forever makes for a great holiday gift. Another permanent life insurance feature that makes a great gift is the cash value growth component. Part of each policyholder premium goes into this component, where it grows at a certain rate based on the policy type.

Over time, this cash value can become a significant source of wealth for the policyholder. They can withdraw from it or borrow against it with favorable terms. They can use this money for nearly anything — from buying future holiday gifts to funding their children’s or grandchildren’s college education.

If the policyholder ever surrenders the policy, they can receive that full cash value minus surrender charges. Either way, the cash value allows them to have a source of wealth that can benefit their loved ones.

Consider life insurance this holiday season

The holidays can be one of the best times to get life insurance. Getting a policy can offer the policyholder and their loved ones substantial peace of mind and financial security. To pay for it, prospective policyholders can use some of their gift money or unused travel savings to cover some of their premiums. Policyholders may also have more time around the holidays to shop around for better rates.

Lastly, financial protection is a great gift, and permanent life insurance policyholders can also use their cash value values to build wealth over time. Overall, as people knock out their holiday shopping and prepare for family gatherings, they should consider adding life insurance to their shopping lists.

Contact Information:

Name: Laura Zimmerman
Email: laura.zimmerman@fidelitylife.com
Job Title: Chief Marketing Officer

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