Did you know that most people break their New Year’s resolutions by the third week in January?

Regardless of the progress you’ve made (or haven’t made—we’re not judging!) on the goals you set for the new year, we think there’s one more goal to consider adding to your list: getting life insurance. It’s easy, affordable, and could be an important part of your financial plan.

Term life insurance can help protect your family from financial loss and can supplement lost income, as well as provide funding for education and everyday living expenses in the event you’re no longer around to provide for your loved ones.

Here’s why you should consider buying life insurance this year:

1. If you have debt

If you have a cosigner on your loans, whether it’s student or personal loans, they could be liable to pay off the outstanding balance.

2. If you’re buying a home (or you currently own one)

Don’t forget your home! If you have a mortgage, a life insurance policy can help pay off the remaining amount you owe so your family can continue living in their home.

3. If you’re making a major life change

Did you recently get engaged? Are you planning on getting married? Starting a family? Regardless of your family situation, if your loved ones depend on your income, your loss could cause financial hardship.

If you are a one-income family, your family would lose its income without the primary breadwinner. Even in a two-income family, the loss of one income source can make it difficult to maintain your current standard of living.

4. If you’re hitting a milestone birthday

The younger (and healthier) you are, the more affordable it can be to buy insurance.

In life insurance underwriting (the process that determines whether you’re eligible for coverage and at what cost), your age is a major factor. Generally speaking, the younger and healthier you are, the less you’ll pay for life insurance premiums.

Consider getting insurance now, so you can lock in better monthly pricing on a life insurance policy that lasts ten to twenty years and save money on the cost of your monthly premium.

Bestow*, our life insurance partner, makes it easy to apply for coverage in minutes. That way you can check this item off your list for this year, the next, and the years after that.