MISSOULA, Mont. – As we’ve seen in the last few months, inflation has taken families by storm when it comes to making ends meet, even with the new inflation reduction act set to come down to the local level soon.
The question many people are asking themselves is to decide between buying groceries for the month or investing in a time when the options are spread thinner. Putting money aside for emergencies has fallen short on the priority list.
According to market and consumer data company, Statista, Montana residents have the third least amount of life insurance purchased in the last few years, prompting life insurance experts at Goose Insurance like Pamela Kwiathowski to say it has brought some tough decisions.
“First and foremost, consumers are really re-evaluating their spending habits period, where can I shave off,” said Kwiathowski.
Life companies have seen this play out since the COVID-19 pandemic where health was a fear, but budgets were not where they needed to be, which has only declined more with inflation.
“I think it’s really important for consumers to remember specifically those who have debt that none of us can predict the unexpected, untimely death, an untimely sickness and so families to take a step back and to look at what would our financial picture be if a critical illness could happen or an untimely death, how are we prepared?” said Kwiathowski.
The biggest advice they’re giving, buy sooner rather than later considering prices across can only go up as we age and if health issues progress.
Montana ranked 3rd lowest for life insurance investment | State & Latest News Update
Montana ranked 3rd lowest for life insurance investment | State & More Live News
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Montana ranked 3rd lowest for life insurance investment | State & More News Today
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