The goal of LIFE HAPPENS is to help people understand the importance of life, disability and long-term care insurance in a sound financial plan, so they’re able to better protect themselves and their family. They provide up-to-date information and personal accounts of how these types of insurance can change lives, along with financial information and trends that allow you to put it all into perspective. This article was compiled by Maggie Leyes on October 29, 2014.

We asked insurance professionals on our LinkedIn page and group to share their best tip on life insurance and getting coverage, and here is some of the great advice we got:

1. Start young. Just because you don’t have a family, mortgage and larger financial obligations doesn’t mean that you have to wait to get life insurance coverage. Lock in your rates while you are young and healthier. You can always add more later in life. —Ivan I. Usero

2. A pasta dinner fundraiser after you’re gone will not raise enough money to take care of your minor children and spouse. Don’t let that be the legacy that you leave them with. —Suzanne Allison

3. Life Insurance is like a parachute; if you don’t have it the first time you need it, there is no second chance. —Luis A. Ortiz Haddock   Thinking doesn’t protect your family, acting does!

4. Don’t underestimate the “earning power” of your stay-at-home spouse! —Patrick O’Rourke

5. If you’re a small-business owner, who takes care of your family in the event of your death? It’s not just about you. —Sherrell T. Martin

6. Permanent life insurance is the best investment vehicle while you’re alive or dead: tax-free access to cash values accumulated in the policy while you’re still alive and tax-free death benefit proceeds for your love ones when the inevitable happens. Put your money where your “life” is! —Czarina C. Barit

7. Until you buy it you’re not covered. Thinking doesn’t protect your family, acting does! —Ed Rainier

8. It is better to have insurance and not need it, than to need it and not have it. —Paul Arroyo

9. Buy when you’re healthy—it’s easier to get and less expensive. —Shannon Williams

10. Get as much as you can afford and as early as you can do it. I prefer the insurance age of zero. —Sean McCann  – And, why not, an extra tip for good measure!

11. It’s been said, You don’t buy life insurance because you are going to die, but because those you love are going to live. I agree 100% with this statement. Protecting your loved ones should be priority No. 1. —Scott Raab

by Maggie Leyes

Maggie Leyes is VP of content strategy for Life Happens. She has been working in the insurance and financial services industry for more than 15 years.

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