Term Life Insurance: Are You Throwing Away Money?
I am a CERTIFIED FINANCIAL PLANNER™ Practitioner, who specializes in family protection, and I love what I do. The reason why I love what I do is because I can help families protect their most valuable asset—their loved ones.
During my 15 years of practice, I cannot tell you how many times in that I have heard people say they don't “believe” in life insurance. When I hear them say this, I can only assume it is because they truly don't understand the benefits of and reasons for life insurance coverage.
I am such a strong believer in life insurance not because I’m in the business, but because of my own experience. In my early thirties, a friend of mine (also in her early thirties) and her husband had a young child. The topic of life insurance was something they evaluated, but like many people, she was young and didn't think anything would happen to her. They felt that a term life insurance plan would just be throwing her money away. Beyond that, she was a stay at home mom. Her husband could still work…
As time elapsed, they began to contemplate the idea, albeit reluctantly. They ultimately decided their interests were best served to purchase a policy, but procrastinated, as doubts still lingered. During this time, she decided to take her dog and take a bike ride down Pacific Coast Highway. She never came home that night. A driver fell asleep at the wheel while on sleeping pills and antidepressants, hit my friend from behind with her car and ended my friend’s life. She never saw her child nor her husband again.
When the police showed up at his door to deliver the news, her husband's life was forever changed. As it was, it’s so very difficult for her husband child to go through this tragedy, but there is a financial aspect that just wasn’t considered. Had life insurance been in place, a portion of the funds could have helped pay for the funeral. On a going forward basis, the funds could have been used for a much-needed full-time nanny, a housekeeper to help with cooking and cleaning, and many other things that seem so easy when the family is intact.
Life insurance won't take away the pain of a loved one’s loss, but it will ease the pain financially if tragedy strikes a family.
My goal is to help as many families as possible avoid the hardship that may people have suffered. Please call me for more information about a term life insurance policy that may be right for you, or for a free review of your existing policy.
Melissa Levin, CFP®, CFS
CA Insurance Lic#0C56086
Please keep in mind Insurance companies alone determine insurability, and some people, for their own health or lifestyle reasons, are deemed uninsurable.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. LPL Tracking #1-067086
Note: Due to industry regulations, the advisor may not post additional reply comments. If you would like to contact the author, please email her at firstname.lastname@example.org