Protecting your loved ones in life and in...

Protecting your loved ones in life and in...


HEY, what happened to my home!?


Where are you at in life? For some, you are just getting started. Maybe you are recently married and beginning a wonderful life together. For others, you have been down life's road a decade or two. Others are nearing the end of their "race" on Earth. No matter where you find yourself, there are financial questions that need to be answered! 


1. What happens to my family when I die?

2. What happens to my family if I get sick but do not die?

3. What happens if I live too long and outlive my retirement?


All of these questions have a variety of answers, but the answers depend on your choices. Protecting our family is like a game of chess. We all have "moves" that we need to make in life. 

If you are familiar with the game of chess you know that the moves we make now influence our decisions in the future. 

Most chess games are not lost on the final move of the game. Most games are lost because of a series of prior moves that created a snowball effect.


Where do you find yourself along this game called life? I can tell you that, no matter where you find yourself, the earlier to take action on protecting yourself, the better. Several things are factored into which insurance protection we qualify for and the cost of such.  


1. Tobacco

2. Age

3. Health

4. Amount of insurance you are requesting

5. Activities! If you are a stunt pilot, bungee jumper, or the like, chances of getting a good policy may make things more difficult.  

6. COVID-19 (people who have contracted COVID-19 that have applied for insurance have been declined in recent weeks) No one knows how long this is going to last, but the safest choice is to ensure you get a policy before you may become ineligible.  


As you can see, the time clock is against all of us. If I wait too long to get protection, I run the risk of having to pay more in the future. 

Let us take a look at these in-exhausted examples in greater detail.  


We all wish we could have a drink from the fountain of youth and stay young. However, the time has a way of winning without fail. The older we get, the closer we come to approaching both sickness and death. It has been said that insurance is a transfer of risk. As the client, we are placing money into a policy in the event the unexpected happens. The insurance companies are taking a risk by insuring people that sooner or later will make a claim on their policy. Take for example the issue of health. Let me give an instance with 2 people. "Jack" is an 81-year-old male and "Jill" is a 27-year-old female. 

Which of the two, statistically, is most likely to have heart problems? Which of the two is most likely to have high blood pressure, kidney disease, high cholesterol, or a heart attack? We all know the answer to these questions. Can someone get insurance who is like "Jack" in this scenario? OF COURSE. 

Because I work with over 3 dozen carriers, I can find a policy that caters to almost every need and circumstance of life. However, consider the difference in what insurance may cost in each given scenario! 

It's not difficult to see that the sooner we protect ourselves, the better.  


How many insurance types are out there anyway?


Many people are familiar with traditional life insurance. When someone passes, the beneficiary receives the benefit of the death claim. This is a common type of insurance, but there are many more. A couple of years back, I sat with my father in the hospital room spoon-feeding his lunch. 

He had suffered a massive stroke that left him paralyzed! If my father would have had only the traditional life policy, he would have been unable to generate an income, yet ineligible to claim on his policy! 

That's where living benefits come into play. Did you know there are insurance policies out there that will pay your beneficiary if you die or if you live?


What in the world are living benefits?


Insurance carriers actually offer policies that will protect you if you are seriously injured, ill, or terminal. 

Unfortunately, many are unaware of the benefits that could receive from these types of policies. Now there is a list of criteria describing what qualifies a person for living benefits. That list, however, is for another blog for another time. Case and point, you could get paid if a loved one dies, or if they live. 


Whew, that's a lot of information! 

Truth be told, it can be overwhelming to think about. Many do not like the idea of preparing for such a day, but preparation is absolutely necessary. Let a licensed professional help you to make an informed decision. If you already have an insurance policy but are unsure if it covers everything you need, call or email us now. Contact us today for a FREE consultation!