Why Do So Few People Actually Purchase Life Insurance?
I have a simple mission: Do everything I can do to help you Protect the People You Love so that you can do things that really matter. It is in my best interest to help you protect the people you love so that you feel at peace about your decisions.
I love my mission.
But there’s another part of my job that I don’t like. This is probably going to be hard to believe, but I just don’t like asking my clients for their money. I really, really, really don’t like asking for money. I mean, I love my job and I’m thankful that I can make a living doing the work that I love; but I’m a little too shy, reserved, and introverted to be as aggressive as I want to be when I ask for your money.
I’m sure you feel my pain.
It Doesn’t Have To Be Hard to Find
It is natural to think that one day we will have to take out a life insurance policy and that it will be complicated and expensive. However, as you approach middle age, it is time to start thinking about how you will provide for the things that your family need as you and they get older. It’s a responsibility that has to be done, but it doesn’t have to be hard!
To start, think long-term. What will your family need in 10 or 20 years? Look for a life insurance policy that covers your family’s needs now. If your income is tied to your job, try to find a policy that will cover your family if you were not around anymore.
If you have a mortgage, consider a policy that has your family guaranteed a fixed or income-based amount for the term of your loan.
Next, it is time to start shopping around for coverage and make sure that your life insurance policy is going to match your family’s needs. There are a few things to look for.
The main question we get asked when people are interested in buying life insurance is “when?” That’s usually followed by the first of the P’s: “priority.” Should you buy life insurance before, after, or even while you’re planning a family?
A lot of people do worry about buying life insurance when they have young children. Often, their reasoning is “life insurance has to be paid for, and we just don’t have the resources if we die to pay for it.” I can’t tell you that you shouldn’t worry about this, because it’s a legitimate concern. However, there are ways around this “ and we’ll get to that in the article.
Here’s what life insurance is and some of the reasons why you might want it. Most life insurance policies cover the funeral costs after a family member passes away, and many also cover living expenses if you or your spouse can’t work.
Life Insurance is NOT Expensive
With some simple shopping around, you can find a 20yr level term for as little as 5.5 cents a day.