Every year, I have the opportunity to get a health screening. I get updated on my cholesterol, blood pressure, height and weight–the numbers that tell the story. Talk about a reality check! It’s a factual reminder of how well I’ve worked toward the fitness goals of last year: to be as healthy as possible and hopefully live a long productive life.
This got me thinking about other areas of my life that might benefit from getting a checkup–like my finances.
I was walking the grizzled life insurance veteran back to his room after he spoke to our group of advisors at an education day. On the way, he says to me, “You know, no one needs to buy life insurance.” I think it was intended to shock a green advisor. It had the desired effect. He went on, “You don’t need life insurance to buy a car, or get a mortgage. If you never buy life insurance, it probably won’t affect your own life.” Pause. “It takes integrity to buy life insurance.” At the time, I was thinking that I will never be able to share that with a client without offending them, but it always stuck with me.
I was standing on the soccer sidelines the other evening talking to my fellow soccer moms about how well a child we all knew was adjusting to the loss of her mother a year ago. It was a horrible conversation that made us all feel uncomfortable and incredibly sad. I hate being sad. I hate thinking about sad horrible things. I avoid them at all costs. I do.
So what I started thinking about was what makes me feel better. I wasn’t thinking that I might die one day, I was thinking about how much I love my family and how much I love my life insurance. That’s right – I love my life insurance and here are my top ten reasons why:
When it comes to buying life insurance, you may not know where to begin. You don’t want to pay more than you need to, but you want to be sure the coverage is there when it is needed.
Term life insurance is a very popular choice for many consumers because it has the lowest current cost and provides the most basic form of life insurance protection. Protection is only for a stated period of time, for example 20 years, and as long as the premiums are paid, the death benefit protection is active; if premiums are not paid, the death benefit protection ceases.
Recently an associate shared with me his experience of purchasing life insurance on his children. For any parent who is considering this, it can be very emotional. Hopefully, by reading this article, you too can experience peace of mind.
At first thought, buying life insurance policies for our children when they were 12 and 15 felt like the right thing to do. Buy it now when it’s very affordable; add the rider option that allows you to increase the protection as they grow up, without additional underwriting would be a great asset for them to own in the future.
