I know...UGH! Right? You probably receive or see offers for life insurance twenty times a day. I know that and believe me there never seems to be a good time to talk about it. Also it seems most people don't want it until they know they need it and by then factors like age, life choices, sickness and others have caught up to them ...making life insurance too expensive.
But let's face it. Out of all insurance you can buy - THIS IS THE ONLY KIND THAT YOU ARE GUARANTEED TO NEED.
Now a couple of the biggest reasons I hear people say they don't want it or need it are these: "I have it through work" or "Yes the term insurance is cheap NOW but let's face it, I'm only 25 there is a good chance I will outlive the coverage and the rates go up anyway"
These sound reasonable but there are things you need to know about both.
Having insurance at work is a great thing. It's usually extremely cheap and hassle free. You get it when you first get hired and then you don't have to think about it again. But what about those times when the business shuts down? Or you lose the job for another reason? Maybe you moved and had to get another job elsewhere that didn't provide life insurance. Now imagine those scenarios occuring after 10 or 20 years on the job.
The point is usually you don't OWN the life insurance policy at work so if they close shop you are out of luck. If you have to move and get a new job you are now in an older age bracket and what if you started smoking? Or what if you have developed a heart condition. The WHAT IFS are what catch up to us.
The other objection is about outliving the term.
PLEASE CONSIDER A RETURN OF PREMIUM TERM POLICY - IT IS PERFECT FOR YOUNGER PEOPLE!!!
This is how it works. Let's say you bought a home and you want the insurance to cover the mortgage period. We'll say you pay $50 / month which equate to $600 / year. You do that for 30 years and you have paid out $18,000 in premiums. But suddenly the mortgage is paid and the term has expired. The life insurance becomes too expensive to keep so you are out that money right? WRONG. Because in the event you outlive the term, the ENTIRE $18,000 COMES BACK TO YOU!
One final bonus suggestion. Come in and take out a policy on your children. No I'm not being morbid and it's not even for the "just in case something happens" reason although that benefit does exist. It's so they get guaranteed insurability later while they are still young and perfect and healthy.
It's called the 70 for 30 plan. Your children get $50,000 of ooverage as long as they are 15 days old or older and it lasts until they are 30. The whole thing cost $70 dollars PER YEAR.
Why do this? Because of things like this: 1 out of 3 kids develop diabetes. Obesity is a problem in our country and by the time the child is 30 they may suffer from this causing higher rates. They may develop high blood pressure or other sicknesses that would exclude them. If you insure them now while they are perfect they are GUARANTEED to be able to continue their insurance when they become less than perfect.
Please stop in or call 419-435-1873 or toll free at 866-921-4452. Let's talk more about the options available to you. No one like to think about this topic but we need to.
Thank you for taking the time to read this and I hope we speak soon.