I am sure most of us if not all of us have been to funerals. How many of you have had to financially help bury someone you loved or cared about because there was no insurance? How many times have you asked yourself, "why didn't they have life insurance"?
As an adult I have been to countless funerals, and of all the funerals I have attended I can count on one hand the amount of people who had life insurance.
There are so many reasons (or excuses) why people don't have it. Here are the top 3 I have come across:
1 This is the most heard reason: I can't afford it.
2. I'm not leaving money for my family to get rich off.
3. I'm young I don't need it.
In my personal experience no one young or old can afford NOT to have life insurance. Life insurance is to make sure your family will have the money needed to take care of the expense of a burial and take care of the family financially while they grieve the loss of a loved one.
This brings me back to the question, "why is life insurance so important?"
Life insurance is important to protect you and your family in case of a death or illness. This is the only product in the world you can't get if you need it. The problems we face today are: Becoming ill at an early age, living longer, or dying too soon. We are in a world where children are being killed before they can walk, people are outliving their retirement money and have to work when they retire just to pay the bills, and everyday there is a new life threatening illness being discovered that affects young and old alike.
I ask people these simple questions: Do you have insurance on your car? Do you have insurance on your house? Do you have insurance on your phone? I always get a yes. My next question is "what happens if you get sick or die will those insurances continue to pay for themselves?" The answer is always no or they never thought about it that way. "So what you're saying is that all of those material items are worth more than you." That's when it hits them.
I deal with a lot of people who can't get insurance because of their health issues. It is heart wrenching to know that they really need it and because of an illness they are not qualified to get it. They either pay 200 times what they would pay if they were healthy or they are declined. That is when they regret not getting it when they were healthy.
Life insurance will also protect you while you are alive: you can borrow money to help you pay medical bills, put kids through college, receive a retirement income, or prepare funeral arrangements before you pass on. It's important to your family when you are no longer around, because life insurance allows the family to pay the expense of a burial, pay bills, pay for college education, and grieve without the additional stress.
