Being that it is Life Insurance Awareness Month, I am constantly thinking of ways to get the message out there, get people educated, and help to protect their families and loved ones in the event that something unexpected happens. Life is NOT SCRIPTED. We all need to be prepared…
There’s a crisis in this country of people being uninsured, or under-insured. The majority of adult Americans do not own an individual life insurance policy, according to LIMRA International. I place a bit of the blame on the industry itself, which may have lost sight of the real reason people buy life insurance. Some agents or advisors will sit down and talk a blue streak about life insurance in terms of numbers and percentages, and then whip out fancy illustration charts to explain to you why it’s an important financial instrument to own.
While those numbers matter, there really is only one very basic reason to own life insurance: because you love people and want to make sure that they are taken care of financially if the worst were to happen to you.
The bottom line: You buy life insurance to provide financial protection for your family and, as the case may be, the business you have worked hard to create.
What if something were to happen to you? Don’t you want your family to be able to continue living in your home and enjoying the life they’re accustomed to? And what about your children, don’t you want them to have the chance to go to college? If you are at or near retirement, don’t you want your spouse to have income to live on in his or her old age? And if you own a business, don’t you want your partners or successor to continue to run a healthy business, not one financially crippled by the loss of a key person?
It’s time to make sure that you are properly insured.