The month of September is Life Insurance Awareness month each year. Yes, an exciting thought as it immediately reminds each person that someday everyone dies. Sometimes we don’t seem to be aware of that, so we need reminding.
But life insurance is about when that eventually occurs unexpectedly and much too soon, leaving dependents destitute.
I once sat in on a presentation by an experienced life insurance agent, as he tried to provide reasons why the bread winner should buy a decent amount of coverage for the spouse and three kids. None of his logical reasons seemed to motivate the individual to take action.
Finally, he remarked, “Well I think she’ll just marry someone else and they’ll be alright.”
The agent said, “she may not have had to do that, but with three kids her choices may be pretty limited. Your kind of setting her up to take what no other women wanted and if he’s mean and beats the kids when he feels like it, I guess that’ll be on you.”
The guy then brought the coverage. People buy life insurance for different reasons, but logical reasons did not seem to be the reason as much as a harsh emotional awakening.
Whatever the reason, Term Life Insurance is very low cost and even can be bought with a Returned of Premium ride. Making it a low-cost savings plan.
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