It's true. YOU don't need life insurance. Your FAMILY needs you to have life insurance. One more time for those in the back... YOUR FAMILY NEEDS YOU TO HAVE LIFE INSURANCE. Their life does not stop because yours did. Imagine your family in the aftermath of your passing, especially unexpectedly. Besides the grieving they will do, they will be immediately saddled with funeral expenses and the loss of your income and support. They will have to find a way to continue moving forward while maintaining expenses. And really, isn't the last thing you want is leave them with that extra worry and concern when they will already be grieving the loss of you? Possibly having to think about selling assets such as your home just so they can survive the financial loss?
I know. Life insurance is the last thing people want to talk or think about. It brings to mind something we don't want to face in life. But reality is, we will face it in life. Every single one of us is going to experience a loved ones loss of life. Why not be prepared when it happens?
Life insurance isn't as expensive as people conceive it to be. For example, the average cost of a 30 year term policy with a $250,000 death benefit for a 40 year old healthy, non-smoking male could run less than $40 a month. And that rate doesn't change for the life of the policy, even if their health changes! How could you NOT protect your family's future for $40 a month?
Do you know that you can get a child's simplified whole life policy for as little as $10 a month or even less??? If you give the gift of a life insurance policy to your child or grandchild, imagine the grief you will be saving their family down the road. Or the cash value it will accrue. No one likes to think of life insurance when your child is born. But I tell people, don't think of it as a "life" policy. Think of it as an investment in their future. If you take out a life policy on a baby or child, you're securing for them that policy even if their health changes in 2 years, 5 years, 20 years! Let me say that again - EVEN IF THEIR HEALTH CHANGES, the rate does not! Gosh forbid they end up with Diabetes Type 1, or the unspeakable cancer. It's fact, it's life and sadly, it does happen. If they don't have a policy in force prior to that diagnosis, the chances of them being able to get one are slim to none or will be extremely expensive!
There are a variety of life insurance policies available to fit almost anyone's needs. There's term life policies, whole life policies, universal life policies, child life policies. These are tailored to fit your life style and your budget. Plus, there are additional benefits to a life policy that you might not be aware of such as accruing cash value over time - which you can even borrow against if needed. Additional discounts on your auto or home policies. The benefits are endless.
Here a just a few reasons we hear that stop you from buying life insurance and our rebuttals:
* Expensive (Not always true, in fact most life policies are very inexpensive.)
* Can get it any time in life (Not always true. You could get a terminal disease such
as cancer which could make you ineligible and then all of a sudden it's too
* If I buy life insurance, it brings bad mojo (Not true)
* I don't need it (Everyone needs some type of life insurance)
* I don't have any kids or a spouse (Someone will have to pay for your funeral or
* I'm a stay-at-home parent, no loss of income for me (What about all the things
you do that need to continue such as childcare, house cleaning, maintaining
household finances, running errands. Is your spouse going to be able to
continue these and maintain their job to cover everyday expenses?)
* I'm young and healthy (This is when you WANT to buy life insurance. Accidents
happen to anyone at any time. Death doesn't discriminate, cancer doesn't
discriminate, illness doesn't discriminate. Ever see Final Destination? Just
* It's too personal to give the details (All information will stay with your agent and
underwriters only to determine a rate. Your personal info is never shared)
* I don't trust the insurer to pay out (We would never work with a non-
rebuttable company. Besides, there are numerous laws in place that protect
you specifically from that happening. And actually, most feel the opposite
when having to deal with getting a death benefit paid out.)
* I don't understand it (Ah my favorite! Guess what? That's why we are here! We do
You insure your home, your auto, your ATV's, your boats, etc. Shouldn't you insure your life to protect your family? Please call your agent. Have the conversation with them. Ask the questions. Protect What's Important! I know I say in every blog to call your agent. But if there is one instance I want to push, this is it. Call us! Have the discussion, folks. It's not a decision you will regret. Remember, some life insurance is better than none!