Having paid out on a few life insurance policies in the last year I thought a real-world perspective on life insurance would be appropriate.
In the early days a death claim was a rare event, but in the last ten years, as my clientele has aged the death claims have steadily increased. Last year I paid out three claims; in 2009 I paid out four. None were “timely.” Every one was sudden and unprepared for.
What’s more—and this is the hard part—seldom was the amount of insurance enough. It wasn’t like the survivors were awash in money. It is surprising how many things there are to take care of, and the hole that is left when one partner is gone. Every one of these people could have easily afforded more life insurance. Maybe I didn’t contact them, maybe they didn’t contact me, maybe…maybe.
If you save 10% of your net income you can use some of that savings to buy life insurance. It will do two things: 1) last for the rest of your life, and 2) accumulate savings. If you aren’t saving 10%, and finances are tight, there are still inexpensive solutions for getting the insurance you want.
There is nothing in this world equal to the legacy you leave to the people you love. Call me. I’ll be gentle. I’ll just tell you what it costs and you can decide.
Also, and this is important: let’s make sure the insurance you are counting on can be counted upon. In the last fifteen years an astonishing amount of life insurance sold to the public contains characteristics that could make the insurance fail under various economic scenarios. I’ll review the insurance you bought but never understood and tell you what you have and what you can expect, 887-886-8583.