Insurance

With rates as low and competitive as they have ever been, it’s as close to a “buyers” market in life insurance as you’ll probably ever see.  Still, in these cash-strapped times, curbing all costs and expenses is a priority for most people, and buying life insurance is no different.

When John recently lost his wife Betty to cancer, their children were surprised to find out that neither John nor Betty had life insurance. As a result, the children ended up paying the cost of the funeral, and John, currently on a fixed income, is left contemplating whether he can afford to stay in the home they had lived in for over 25 years.

An untimely death can have a major financial impact on those left behind, particularly if there is a mortgage to pay, credit card debt, or an outstanding auto loan. Even final expenses can be a burden.

The one thing of which we can all be certain of, is change.  Life happens every day and, as a result, we are constantly assessing our situation and changing our course, usually by making small adjustments.  A life insurance purchase is one of the few decisions we make with a more long-term perspective.

Critics of whole life insurance point to the higher premiums these plans require and the inflexibility of the payment schedule; however, when the structure and features of whole life insurance are fully understood, a fair-minded person would see that it offers affordability and flexibility along with unmatched long-term security.  When whole life premiums are clearly explained, it becomes