According to research from the Life Foundation, over 58 million households lack one of the most important types of insurance you can have - LIFE INSURANCE. Especially during tough financial times, one of the first things that get eliminated from a monthly budget are items that are viewed as "expenses".
Let me ask you a question. You go to buy a car, do you think the dealership will let you drive off the lot without in-force car insurance coverage? Or you buy a home, will you close the deal at the title company without the title officer seeing an in-force homeowner's policy? For both instances...of course not.
Why? Well, it's the law.
But how come we can go about our lives without covering the most important financial money-making machine we have - OURSELVES.
As you see in this video, through financial education, awareness and strategy, the people in the video own some form of life insurance. It doesn't matter whether it is permanent or term...the bottom line, they own a policy that makes sure that whatever dreams or financial goals they have in life is made possible in case they themselves don't make it.
After all, isn't all death pre-mature?
Two major reasons I see people LACK life insurance:
1. They Associate it Solely With Death - worse, they have a mentality of "I'm worth more dead than I am alive". OR "I don't want anyone to benefit from my death". Ok, I get it. But if you value your family and loved ones as a blessing in your life, you will look towards providing a financial future now and in the future. If you value them, you wouldn't want to leave a financial burden that you helped created, right? Or all the hopes and dreams you promised that unfortunately will not be able to deliver because "life happens". When your mindset is shifted towards the LIVING BENEFITS of what life insurance can offer, you just might be surprised how much you can GIVE even if you're not around. And in the words of one of my personal client's daughter, she says, "My daddy still sends me checks from heaven."
2. They Think They Can't Afford It - well, that's what I thought as a United States Marines soon leaving active duty after two tours. The cost of my SGLI (Servicemans Group Life Insurance) of $400,000 would skyrocket when I left as it converted to VGLI (Veterans Group Life Insurance). Through financial education, mentoring and looking for answers, I discovered that there were many different styles of life insurance from term, whole, variable and index universal life insurance policies. My current employer was not the only way for me to get life insurance coverage I need. Could it be that there are different ways to provide, pay and fund my financial future with just a little know-how? Absolutely. And here's the kicker, I was able to pay for life insurance without having to create another BILL in my budget and dig deeper into my pocket.
How? Stick around and I'll be sharing some strategies next month during Life Insurance Awareness Month sponsored by the Life Foundation.
If you love your family and love to make sure they are taken care of long after you are gone, then I hope you take advantage of the Life Insurance Movement and dig up some answers to your questions...
Then GET a LIFE (insurance policy)!