THIS IS THE MOST IMPORTANT POSTING I WILL EVER CREATE
Life Insurance is without a doubt the most under offered product in the insurance industry , yet at the same time, it is the most important. We are conditioned already to purchasing auto insurance since it is a requirement to drive on the roads anywhere you go. We are also conditioned to the need for home insurance due to lender requirements and also the fear of losing a home to a fire or other peril. People seem to place immense value on these types of insurance, yet there seems to be a notion or idea that life insurance is an unimportant coverage and that we will live forever. This could not be further from the truth. There are many types of life insurance which I have already described in previous blog postings, however what they all have in common is that they will benefit your heirs and pay a specific sum of money you choose to those who you designate to receive it.
Out of all of the lines of insurance I offer , I find Life Insurance as a conflicting matter to some customers , especially between some couples. It is a very emotional decision the idea of discussing mortality frightens people in many cases. A memorable and frustrating scenario I once came across several years ago was a situation where a husband had submitted a life insurance application on himself with every intention of protecting his wife and children in case he should pass away unexpectedly. The husband's only pre-requisite to purchasing a life insurance policy was that the spouse purchase one as well. A conflict erupted where she refused to go through with it for personal reasons which in turn, led him to abandon his life case. I have seen other similar scenarios as well over the years. As an agent , I find this heart breaking as there is only so much I can do in a situation like this to get through . In spite of my explanation efforts per the inherent risks involved to the surviving spouse should no life insurance be in force, this couple could not come to a resolution on this matter of Life Insurance and is not uninsured in this area.
In agency conferences, too many times year after year, the speeches and guilt of other insurance agents haunt me who could not get through on the issue of life insurance and soon after, the individual died and the surviving spouse called in regret and tears knowing that they should have purchased the life insurance coverage. I do not want to have that difficult conversation with my customer in such an event, but rather have a conversation of at least some relief to them.
I have seen too many Gofundme pages soon after the death for struggling families of an individual seeking to fund their funeral and final expenses. These are people who could have at least been provided some relief and taken the question of money off the table along with all the financial stress and anguish that came with it had they just bought some basic life insurance. Money will not bring back a loved one but it is a reality and a hardship to face when a person dies. Ask the questions ; How much debt will I leave for my heirs to pay off if I die first? Will my children be able to afford the college they want? Will my family need to sell their home without my income?
Life Insurance is the most important product I can offer my customers because it is a deeply emotional decision for people when thinking about death and the well-being of their loved ones. It is my duty to educate those and present them with the right options for their specific situations. What amazes me is how few people have ever been asked or offered life insurance and most do not understand the concept behind it before initially talking with me about it.
Life Insurance will not bring back your loved one however no matter how you look at it, you will eventually face the financial ramifications of the loss, whether it be paying for final expenses, being saddled with a mortgage without the use of the income from the deceased or the existence of other consumer loans that must be addressed . I have found as well that many parents would like to pay for their children's college and factor that into the equation of our financial analysis of their portfolio in respect to arriving at the right figure to insure them for.
In conclusion, this is a topic many people widely ignore until it is too late to qualify for life insurance due to are or health conditions that arise. Your eligibility window is dependent on these factors and pricing favors the young and the healthy.
Please do not allow this topic to be swept under the rug and at a minimum learn more about it for the sake of your family and loved ones. I am here to help. Life Insurance is a product where your eligibility can disappear overnight due to a diagnosis of illness, age and other factors.
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