What is purpose of life insurance

What is purpose of life insurance

It might not be for you but here are a number of reasons.

Your life insurance can be a sound financial investment and planning tool.

In the event of death, your life insurance policy can serve as replacement for some lost income so that your family and loved ones do not endure financial hardship.

A life insurance policy can pay for your final costs and expenses.  Burial costs, estate planning, attorney and administration fees, debts, and medical expenses all contribute to high costs at time of death.

What is purpose of life insurance

Your decision to purchase life insurance gives loved ones the peace of mind that these financial burdens do not become lasting monetary hardship.

Your life insurance can also be an inheritance to your heirs, even if you have no assets at time of death.

Your life insurance policy can also act as a savings account in some instances, which can be withdrawn or borrowed at your request.

Your life insurance can also be used to make a planned charitable contribution at the time of your death.

What is purpose of life insurance

Your decision to purchase life insurance should not be taken lightly.  If you have questions on how to buy life insurance or questions regarding the process to buy life insurance, click on – Your Life Insurance 411

Because you care.

Non-Buyers Rank Life Insurance as a Priority, But No One's Asking Them to Buy

Non-Buyers Rank Life Insurance as a Priority, But No One's Asking Them to Buy

Nearly half of consumers who have not purchased life insurance consider the product among their top five financial priorities, according to a survey by Deloitte Research, and 21% ranked it in their top three.

So why haven’t they bought?

Interestingly, a third of non-buyers said they have not purchased a life insurance because no one had approached them with an offer to sell a policy. Almost a quarter (23 percent) said they didn’t understand the benefits of life insurance or how it would help them.

Among all consumers who have not purchased life insurance, 62 percent said they received no offers to buy life insurance during the past year, while only 8 percent had been approached by an agent. Non-Buyers Rank Life Insurance as a Priority

“From our survey it is clear that life insurance is very much on the minds of many consumers,” said Rebecca C. Amoroso, vice chairman and U.S. insurance leader for Deloitte. “A significant percentage of respondents have simply not been offered coverage recently; many also noted that they never shop for coverage on their own initiative. Not soliciting their business exacerbates this gap between insurers’ interests and consumers’ needs.”

The survey complements research by LIMRA, which found that 56 percent of U.S. households have no individual life insurance coverage.  Non-Buyers Rank Life Insurance as a Priority

Now it is easy to buy.  Click here – Because you care

Non-Buyers Rank Life Insurance as a Priority

We can always take care of it later ~~ Life Insurance

“We can always take care of it later.”

That’s what my client, we will call him Tom, said to me once.

For that matter, many prospects have said that to me.

But let me tell you about Tom.  He was 32 years old and engaged to be married to Kelly.  Tom and Kelly were very busy, like we all are, and we finally set an appointment to take care of their life insurance.

They decided to purchase a $25,000 whole life policy as well as a $125,000 term policy to cover their mortgage.  As we completed the applications Tom decided to wait on the $125,000 term policy.  Tom said, “We can get that later.”

The $25,000 whole life policy was issued.  Upon delivery of the policy I asked again, “You want to get the mortgage insurance policy started?”  Tom said, “No we will do it after the wedding.”   They were to be married in 3 months.

Then it happened.  About a month later I received the call from Kelly.  Earlier that day there was a news report of an explosion at a nearby factory - the factory where Tom worked.  Kelly’s call was to tell me Tom had died in the explosion.

We can always take care of it later

Needless to say, I was shocked.  Yes, the $25,000 policy was paid to Kelly.  But what made things even more painful was Kelly’s comment to me, “I wish we would have purchased that other policy when you urged us to.”  She ended up losing the house.

Can you afford to take care of it later?  Click here.  Because you care.

We can always take care of it later

He didn't come home ~~ the need for life insurance

He didn't come home.

Everyone just assumes that when they leave their home in the morning that they will be coming home.

For my Dad, 15 years ago, that didn't happen.  He was only 60 years old.  No health issues, no prescriptions.  He exercised and had a low stress business.  So there were no signs.

It just happened.

He was a successful businessman and understood the value of life insurance.  He had a lot of it and mostly term insurance.

Because of this my mother has continued to live a full life and has not had to change her standard of living.

He didn't come home

My Dad surely didn't think he would die so young but he knew in his heart if he did his wife would be well taken care of.

None of us are getting out of here alive.  What is your plan? Click here 

Life insurance - Because you care

He didn't come home