Why do you need life insurance
Happy Thanksgiving
Why Buy Life Insurance - Click below
Why do you need life insurance
What is your plan? Do you have a plan? Click here - Because you care.
Wednesday, November 21, 2012
Wednesday, November 14, 2012
TOP 10 REASONS TO BUY TERM LIFE INSURANCE
TOP 10 REASONS TO BUY TERM LIFE INSURANCE
TOP 10 REASONS TO BUY TERM LIFE INSURANCE
1. To replace your income
2.
To
provide funds for your family’s future living expenses
3.
To
pay off your mortgage
4.
To
pay for college tuition for your kids or other family members
5.
To
pay off outstanding debt
6.
To
provide for your spouse’s retirement
7.
To
provide additional coverage when adding family members
8.
To
provide funds to continue a business or assist with tax planning
9.
To
provide for your burial, funeral and final expenses
10. To leave money to your favorite charity or charities
To summarize, life insurance is the very foundation of a well
thought out financial plan. Those who purchase life insurance are planners and
forward thinkers.
They sleep well at night with an assurance and peace of mind
that only this coverage can provide. Your professional
insurance agent, Mike Sheehan, will shop all the highly rated carriers and come up
with an affordable protection plan for you, your family and loved ones.
Wednesday, November 7, 2012
Combatting consumers' life insurance apathy
Combatting consumers' life insurance apathy
Consumers are focused on other financial priorities
According to the nonprofit LIFE Foundation and LIMRA’s 2012 Insurance Barometer Study,
nearly a third of all consumers believe they need more life insurance.
The top reason uninsured or under-insured
consumers cite for not obtaining more life insurance is that they have “other
financial priorities.” That was mentioned as a factor by 85 percent of survey
respondents.
The study found consumers are more concerned
with paying their mortgage or rent (31 percent say they are extremely or very
concerned) or losing money on investments (26 percent) than they are with
issues that speak to the need for life insurance. Having enough money for a
comfortable retirement continues to be consumers’ top financial concern (50
percent say they are extremely or very concerned).
It is reasonable to consider that the
recession has forced many people to put things like securing life insurance on
the back burner as they attend to what they perceive as more immediate needs, whether
it be it covering basic living expenses, trying to squirrel away more money for
retirement or contributing to their children’s college funds. But many
middle-income consumers who could afford coverage would rather buy something
tangible, like a new flat screen TV or the newest Apple gadget, than put that
disposable income toward life insurance.
Life insurance is not top of mind - Combatting consumers' life insurance apathy
The life insurance industry realizes people
are not being educated about why they need life insurance and why owning it
needs to be higher on their priority list. But how to go about correcting the
problem is another matter.
“People are aware of life insurance. If their
financial advisor recommends it, they are inclined to buy it, but it’s probably
not top of mind for most people.”
Raising awareness is only part of the issue.
The industry also needs to dispel misconceptions and perhaps even fundamentally
change the way it approaches consumers.
People don’t understand life insurance -
Most life insurance
policy owners neither read nor fully understand their policies, and they have
little interest in voluntarily acquiring additional information. Getting people
who don’t own life insurance to understand what they’re being asked to buy is
another big challenge.
People who know they need life insurance
coverage usually don’t know how much coverage they need, and tend to seriously overestimate how much it would cost. The 2012
Insurance Barometer Study revealed that consumers believe life insurance costs
nearly three times the actual price, which undoubtedly
deters them from getting the coverage they admit they need. Beyond “other
financial priorities,” the second most common reason survey respondents
mentioned for not obtaining more coverage is that life insurance is “too
expensive.” Combatting consumers' life insurance apathy
Survey respondents were asked to estimate the
annual cost of a 20-year, $250,000, level-term life policy for a healthy 30
year old consumer. The actual cost is roughly $150, but Americans estimate the
cost at $400. Younger adults, who are most likely to qualify for preferred
pricing, overestimate the cost by nearly seven times the
actual cost.
The fact is, the cost for basic term life insurance has fallen by about 50 percent over the past 10 years and has never been more affordable. Owning life insurance is fundamental to a family’s financial security. Combatting consumers' life insurance apathy
What is your
plan? Do you have a plan? Click here to find out your options.
Contributing to post -
Brian Anderson
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