In my experience, there is almost no one that WANTS to discuss life insurance. They may be led grudgingly to the conversation, but WANT to do it, no way.
I get it. Life insurance is there for when someone dies and death isn’t something that people willingly want to discuss, especially if it isn’t imminent.
But the plain truth is that death is inevitable, and no one knows the exact date and time when it will occur.
Auto insurance isn’t discretionary, nor is homeowners. You MUST have these coverages in place to legally drive a car or purchase a home.
But you don’t have to purchase life insurance and even though there is no law that insists that you do so, it is a personal decision that can provide peace of mind.
Here’s why:
- Financial Security: Life insurance can provide financial security to loved ones after a death. It can help them cover expenses such as funeral costs, outstanding debts, and day-to-day living expenses. After a person passes there can be a lengthy period of adjustment and having a financial cushion will make it easier to get through the initial weeks, months, and possibly years.
- Protection of Future Goals: Life insurance can also help protect future goals, such as college education for children, retirement savings, or leaving a legacy. With life insurance, a family will have the financial means to achieve these goals.
- Relief from Financial Worries: Losing a loved one is already a stressful and emotional time and worrying about financial matters only adds to that stress. Life insurance can help provide peace of mind by relieving some of the financial stress and allows family to focus on healing.
- Estate Planning: Life insurance can also be a useful tool for estate planning. If you have significant assets, such as a business, real estate, or investments, a life insurance policy can help ensure that the beneficiaries receive the full value of the estate, without having to sell off assets to pay estate taxes or other expenses.
It may not be an “enjoyable” conversation to have, but a very necessary one. Please let us know if we can assist.
