Re-examining the value of life insurance
Common excuses for not purchasing life insurance ignore the benefits.
The idea that younger families do not need life insurance is incorrect. Losing a breadwinner dramatically alters the future for both the spouse and children. In addition, it is much cheaper for a younger person to be covered.
Some argue that it is too expensive. This is a huge misconception as there are many low cost options, competitive pricing and types of policies available that provide great value for families. Here is just one example:
A 35-year-old male in good health can buy a 20-year, $1,000,000 term policy for less than $39 per month (quotes will vary by age, health and company).
Can you afford not to own some form of life insurance, permanent (called whole life) or temporary (coverage for a defined period of time) to ensure a long-term future for your business, those people and institutions you deeply care about?
Why not talk it over today and make plans now so no one will ever have to say, "It is too bad; if had he/she had only known what was ahead, it would have made such a difference for everyone." The time is now; do not put this off. People are counting on you to make right decisions. Life insurance may be more expensive tomorrow and, perhaps, too late.
Your empty chair will be costly. Life insurance in its various forms has the power to transform a tragedy to an expression of caring that can live for decades to come. It is time to re-examine your needs and plan for the future. It all begins with a simple conversation. You may be surprised at the peace of mind and sense of security you will know and share with those who matter most.
Stan Craig, the founder of the ForeTalk Seminar, is an accomplished financial planner, executive coach and keynote speaker. He is also author of “ForeTalk: Taking Care of Tomorrow Today.” As a finance professional, Craig had a 27-year career at Merrill Lynch, which included positions as national sales manager, director of global sales for defined asset funds and the first vice president and senior director of the Office of Investment Performance. For more information, visit www.ForeTalkSeminar.com.