Why Life Insurance is a Prudent Financial Tool

A few nuggets of common sense

As you prepare your Financial Plan, consider a few nuggets of common sense that illustrate why life insurance plans are prudent financial tools you may want in your portfolio.

  1. Start young.  Lock in rates while you are young and healthy.
  2. We love our families and would do anything to protect them. A monthly premium payment is a small price for peace of mind.
  3. Life Insurance is like a parachute; if you don’t have it the first time you need it, there is no second chance.
  4. After you’re gone, who will fundraise money to take care of your children and spouse? Don’t let that be the legacy you leave them.
  5. Don’t underestimate the “earning power” of your stay-at-home spouse.
  6. Permanent life insurance can be a win-win investment vehicle while you’re alive or dead: tax-free access to cash values accumulated in the policy while you’re alive and tax-free death benefit proceeds for your love ones when the inevitable happens.
  7. It is better to have insurance and not need it, than to need it and not have it.
  8. Get as much as you can afford and as early as you can do it.
  9. Until you buy it you’re not covered. Thinking doesn’t protect your family; acting does.

It’s been said we don’t buy life insurance because we are going to die, but because those you love are going to live. Protecting our loved ones is priority Number One.

What is vital to your plan?