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The best way to think about life insurance is that it provides financial protection for you and your loved ones. To put it bluntly, it is the insurance policy for your family that ensures they will be taken care of when you or your spouse dies whether that is next year or many years in the future.
Unplanned events happen. But have you considered how your death could change the lives of your family forever? They could lose their home. They could go broke paying expenses related to your death. Just losing your income is enough to turn their lives upside down. I have seen it happen far too many times.
Why more people don’t buy life insurance concerns me. So I thought that I would put together some lists of why people buy life insurance and why people don’t buy life insurance. Maybe this information will be enough to help you choose to start protecting your loved ones right now!
Replacing a spouse’s income is the number one reason people purchase life insurance. No one wants to leave a huge financial burden to their wife, husband or children.
Eliminating even one source of income from a family can set off a chain reaction of financial burdens. For this reason alone, replacing a spouse’s income is the top reason people purchase life insurance from me.
Right alongside replacing a spouse’s income is paying off the mortgage. For the exact same reason people don’t want to leave behind a financial burden, they also don’t want their loved ones to lose their home due to their passing. Paying off the mortgage is just as important as replacing a spouse’s income. Losing a loved one and then your home quadruples the devastation. Neither you nor I want that. Protect your home. Protect your family.
FFinal expenses can be overwhelming. Funeral expenses, medical bills, car payments and other financial burdens can fall on the shoulders of your family if they are not protected by your life insurance policy.
Did you know that the cost of an average funeral is somewhere between $7000 and $9000? And that is on the low side! Imagine trying to pay for this without life insurance coverage.
Would anyone inherit your property in the event of your death? If so, then a life insurance policy can be helpful here, also. When a person dies and their estate is passed on through their Will, the government imposes estate taxes on the beneficiary of the estate before it is transferred. This is also widely known as "The Death Tax". Benefits paid from your life insurance policy to your beneficiary could provide the funds to cover what could be this very large tax.
Did you know there are ways to fund your loved one’s college expenses with life insurance policies? It's true. And you can do it tax-free!
There are plenty of very important reasons to buy life insurance. These are just a few.
On the other hand, there are reasons why people DON’T buy life insurance that will really make you laugh.
The top reason people don't buy life insurance is because they think that they can't afford it. There are many different plans on the market today and I can almost always find an affordable plan if you’re in good health. And yes, smoking will make your premiums higher! So, quit!
Some people just don't want to buy life insurance because they have plenty of money. The problem with that is that money doesn’t always last forever. The sooner you get your life insurance policy the better, because younger people generally pay lower premiums.
This may actually be the number one reason, procrastination. Many people just put it off until tomorrow and then it’s too late. The process of getting life insurance is getting easier all the time and not all life insurance policies require blood tests and doctor’s reports. Call me, tell me what you’re looking for and we will just go from there. But do it today, NOT tomorrow.
There are so many “myth-conceptions” about life insurance. Go figure. Not everything you read online is true! Here are the top three “myth-conceptions” I hear about life insurance products.
We already mentioned this but it’s worth repeating. Life insurance policies are affordable! Not next month, not next year, not even tomorrow, life insurance is affordable for you right now! One more night of left-over dinner (instead of going out to eat) could be put toward a life insurance policy. One more hour of overtime this week could go right toward a life insurance policy. My point is that most people can afford to start their policy right this minute because they are usually very affordable.
Just because your spouse doesn’t contribute to the household income, doesn’t mean that a life insurance policy on them isn’t needed. If you have kids and one parent works while the other stays at home with the kids, how will you take care of those children should that spouse die? Childcare alone can cost well over $1000 a month! It is just as important to have life insurance on the non-working parent as on the working parent.
Because I am not a financial advisor, I cannot nor will not recommend anything related to stocks and markets. What I will say is that stock markets go up and stock markets go down. Life Insurance products provide protection no matter what the stock market is doing.
Call me. If you don’t already have life insurance, let’s see what’s available for you and your family. Don’t procrastinate. Let’s get started right away.
Maybe you currently do have Life Insurance but are wondering if your policy is adequate. Call me for a free analysis of your current coverage and we can determine what’s right for you.
Also, Grandparents often pay for Life Insurance Policies on their “Grand Sugars” to help pay for future college educations. Call me about this and I’ll explain.
And remember, my time doesn’t cost you a penny – ever!
If you have any questions or would like to request any additional information, please feel free to contact me (NO PRESSURE OR INTIMIDATION INCLUDED). My time is always free and will never cost you a penny! Ask me how! 1-877-218-1972. You can also learn about my appointment process by clicking the button below.
