Is Life Insurance Required by Law?

Life insurance is something that everyone has heard of but that many people do not fully understand. Life insurance can be a massive help to those that have just lost a loved one and having the right policy in place can make a huge difference in how easy it is for loved ones to handle an estate after your passing. Life insurance is something that is completely at the discretion of the person taking out the policy, and it is never required by law. For those in the Lansdale, PA area, the agents with Farrell Insurance Associate, Inc. can help you choose the policy that is right for you.

Why isn’t life insurance required by law?

For starters, life insurance is not something that all people even qualify for. In some cases, illness, age, and other factors make it next to impossible to get a life insurance policy which means that it is simply not possible for the government to require that people hold policies if not everyone can even qualify for a policy in the first place. Life insurance is something that anyone that takes out a policy can benefit from directly, and their families can benefit from after their passing.

You should take the time to think about what types of coverage you need and what options are going to help you get the best overall policy. Not all life insurance policies are created equally and taking the time to look at what is available to you is the best way to get the coverage you need. For those that live in the Lansdale, PA area, the agents with Farrell Insurance Associate, Inc. can help you find the policy and the coverage that works best for you and your needs.