Life Insurance Now More Than Ever

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(Last Updated On: September 16, 2013)

By Melva Corbett, Insphere Insurance Solutions

Don’t Leave Your Family’s Financial Future to Chance, Says Local Insurance Expert.

Are you among the millions of people who feel less secure financially than before the Great Recession? Retirement accounts rebounded, but savings have dwindled. People are working a new job, but at a lower salary. Most of the time surviving from day to day, people are narrowly focused on putting food on the table and keeping a roof over their heads because it seems as if that’s all they can do.

If any of the above sounds like you, what would happen if you died tomorrow? “No one wants to think in those terms, but given that many of us are still in the financial rebuilding stage of recovery, everyone should ask themselves ‘Would my family be OK financially without me in the picture?’” says Melva Corbett, a licensed insurance agent with Insphere Insurance Solutions in Houston, Texas.

“Life insurance is one of the few guarantees you can offer your family to help them maintain their quality of life without you.”

September is Life Insurance Awareness Month, making it the perfect time to take stock of your life insurance needs.

As difficult as it may seem to look beyond the bills and other daily challenges, “you should make it a priority to maintain your current life insurance or get coverage if you don’t have it,” says Corbett. “It will provide an anchor of stability for your family’s finances, ensuring that your loved ones will be financially secure when you die.” For those without any life insurance or for those who may need more because of changing circumstances, Corbett suggests the following steps to get coverage:

Step 1 – Determine how much life insurance you need.

Calculate how much of your income would need to be replaced to maintain your family’s standard of living. Add up your family’s

current and future financial obligations and subtract the total financial resources that will be available when you are gone. The balance remaining is a good indicator of the coverage amount you should seek when looking for insurance. The nonprofit, LIFE Foundation, has an easy online calculator that can also help you determine how much coverage you need. Find it at

Step 2 – Decide what type of insurance you need.

There are two main types of life insurance: term and permanent. Both have advantages, but the kind of coverage that’s right for you— term, permanent or a combination of both—will depend on your personal situation and financial goals. There are policies available to meet virtually every budget and need. To get a better understanding of what might be right for you, use the LIFE Foundation’s interactive product selector at www.lifehappens. org/whatkind.

Step 3 – Understand your buying options.

There are several avenues to obtain life insurance. Many insurance professionals offer free consultations to assess your life insurance needs and recommend practical, financially sound solutions. Life insurance may also be available through your employer. Check with your human resources department about life insurance benefits that may be available. Life insurance is even available online through insurance websites that typically offer policies from a multitude of insurance companies.

As Corbett points out, “the most important thing is to get coverage; don’t leave your family’s financial future to chance.”

About Life Insurance Awareness Month

Life Insurance Awareness Month is an industry-wide effort that is coordinated by the nonprofit LIFE Foundation. The campaign was created in response to growing concern about the large number of Americans who lack adequate life insurance protection: 95 million adult Americans have no life insurance.

Of those who do, most have far less coverage than most financial experts recommend. For more information, visit LIFE’s website at

About Melva Corbett

Melva Corbett is a public speaker and insurance consultant with Insphere Insurance Solutions. As a speaker she has experience working with audiences across the country and has been featured at conferences and on radio. As an insurance consultant, she represents over 17 top-rated carriers. Committed to help people find products and solutions that adequately resolve problems/concerns without financial strain, free consultations are available. For an appointment or more information, call (713) 242-1664 or email

Life Insurance Now More Than Ever