Happy New Year Everyone!
It’s hard to believe that 2020 is here, and we can’t wait to see what this year will bring us! With a new year many people focus on setting goals, resolving to complete or achieve something new. What’s often overlooked in our plans for the future is life insurance. When most think about insurance, some of the first things that come to mind are insuring your home, cars, businesses, toys, etc. We’ve all made some big investments in these items, why wouldn’t we insure them! But as my colleague and friend, Jodi Riedl says (which I’ve coined “Jodi-isms”), “We tend to insure our possessions, but never insure OURSELVES correctly.”
Life insurance tends to be one of those topics that no one wants to talk about. Let’s be honest, it gets a little strange to talk about the “what if” scenarios in life and what we can do for our loved ones after we are gone. However, no matter what stage of life you’re in, whether you’re beginning a career after college, newly married, house full of kids, or empty nesters, the question always needs to be asked, What If??
There are different needs for life insurance at every stage of our lives whether its current living income, college tuition for kids, bills and expenses, funeral fees, the list goes on and on. In considering a life insurance policy our professionals will always recommend to first decide what your purpose and need is for life insurance. Many times, we get asked to quote random limits of life insurance, just to get the cost of premium, but the fact is those limits of insurance or premium amounts are not going to matter if it doesn’t fill the need of the insured first.
It’s also important to consider the type of life product.
Options include:
- Term
- Permanent
- Universal Life
- Whole Life
- Guaranteed
Each one of these gives you a different benefit and structure to fit your needs so make sure you discuss your options with a life insurance professional.
It’s simple everyone, just ask! Always talk to a life insurance professional for guidance before purchasing a policy, and always evaluate your needs! Ready to talk? Connect with one of our professionals here.
Assess your life insurance needs with this free tool.