Life insurance is too expensive:  Life insurance is a practical decision that can guarantee a certain sum of money at an uncertain time.  It can pay off debts, allow surviving family members to remain in the home, replace lost income and allow dreams (such as college) to be fulfilled.  A simple term policy can be designed to meet a variety of needs.  Larger policies can come later, as careers and incomes advance.  But the cost of not owning a policy is far greater than the premiums.  The next time you read a newspaper article about a fund-raising event for a local family after the death of a young parent, you will be reminded of the importance of life insurance!

 

 

Singles and those without children do not need life insurance:   Oh, really?  Can your parents afford to pay off your college loans, other debts or final expenses? In addition to credit card debt, vehicle loans and funeral costs, spouses without children still rely on each other to pay the mortgage and other bills, take care of their property and save for future goals.  Could you loose a spouse’s income and continue in the lifestyle you have become accustomed to?  I can help you identify your needs and develop a plan that will address all of these concerns.

 

 

 

Only one working parent needs life insurance protection: Although it is harder to find the household without both parents generating an income, the stay-at-home parent needs life insurance, too!  Who will provide day care, chauffeur services, cook, clean….the list goes on.  Dave Ramsey estimates that to replace these services that a stay-at-home parent provides could be up to $509,520 annually!!  Most people are very surprised to learn this statistic!  So, yes, don’t forget the “non-working” parent!

 

 

 

Term life insurance provided by most employers is sufficient:  Most employers provide an employee with a term life insurance policy that is a multiple of their salary, but usually not to exceed about $50,000.  While $50,000 is helpful to a household at the time of the employee’s death, it certainly is not enough to address all of the needs of the family.  Don’t forget, what happens to the policy if you leave your job?  It is terminated!  By having your individually owned policies in place you will not have to worry during an unemployed period in your career.

 

 

 

Applying for life insurance is a long & invasive process:  In order to qualify for “preferred” ratings, many insurance companies require a medical exam.  This exam usually consists of a blood & urine sample and may be completed is less than one hour!  The professional completing the exam will meet you on a day, time and location that is most convenient for you.  Additionally, the applicant is usually asked general medical questions.  Most insurance policies are issued and delivered within a two week time frame!