We visit many clients and ask them if they have life insurance. There are several responses we gear to this question:
Yes, I have life insurance through my work
I am too young to worry about that
I can’t afford life insurance
Yes, I have life insurance not sure if it’s enough though
So let’s look at each one of these:
Well many employers have life insurance for their employees as part of their benefit package. For some it’s their salary times a number and if they die on company business while travelling it may be times even a greater number. Some have a fixed insurance rate. Some may still have a small policy after retirement.
All of this is good but what if:
Your company changes the benefit plan and you no longer have life insurance
You are downsized and no longer have a benefit plan
You leave the company for another company will it have life insurance
The “what if’s” are common in today’s work force!
We believe that if you have life insurance through work you should treat it as a bonus part of your estate for your loved ones. With work place insurance there is no guarantee on the amount of insurance or if it will still be there when your family needs it.
You may think you are too young to need life insurance because you have a long life ahead of you but bad things can happen to young people just the same as anyone else. When you are young life it is actually the time to get life insurance to protect you and your (future) loved ones. The monthly premiums will never be lower that they are today; they only go up with age. In addition being the healthiest you probably will be you should be able to get life insurance. As time goes on you may find yourself denied life insurance due to a potential medical condition.
Yes cost is a factor in life insurance but let me ask you:
Do you insure your car?
Do you insure your house?
The answer is probably yes so why don’t you insure your income?
Life insurance is for your family so that if you were to pass away they will be able to carry on a life style you would like them to have.
This is a good thing. The person has thought about and bought life insurance but needs confirmation on the amount of life insurance needed.
Life insurance is not for you it is to protect your family when you die. It is there to provide them with funds to pay off debt, pay for children’s education, and provides income to a family where the spouse does not work or to replace your income where the spouse does work. You love your family and want to ensure that they can carry on a good life when you pass.
We can help you with this; we do a complimentary Financial Goal’s Analysis that looks at all of the above factors to determine how much life insurance you should have to provide the protection you want. In addition we will also calculate how much life insurance you spouse should have, their contribution to the family if a stay at home person is just as valuable as an income by looking after children,
So why not contact us and book your Financial Goal’s Analysis and get your family protected!
One more other thing, why not tell your friends about us, they need life insurance just as much as you do! You would feel bad if they passed away and weren’t properly protected, you telling them about us may be just what they need to get the protection they need for their family!