In the spirit of Valentine’s Day, I wanted to talk about life insurance from a different perspective. Most of my blog is spent discussing the financial and living benefits of life insurance. But life insurance is, and will always be, a means of providing for loved ones in the event of death.
If you love someone, you protect them. Life insurance is the ultimate form of protection. Who will take care of your spouse and children if you were to perish? Will they be able to maintain the same standard of living? Will they be forced to move from your home? Will your spouse still be able to send the children to college? Who will pay your final expenses?
If you love someone you would not want to pass this burden onto them. You want to guarantee that the plans you have made and the life that they live will continue. The grief of a significant loss is tough enough to bear without adding a hefty fianncial strain. Life Insurance is the only product that guarantees what you want to have happen…will happen!
In a Prudential Financial Inc. study entitled “Life Insurance: A Guarantee in Uncertain Times” they found that 72% of life insurance owners say that this market downturn has reinforced and deepened concerns about providing for loved ones. 94% of policyholders value the guarantee it provides. Market instability, home equity values slashed and unempl0yment at it’s highest level in 27 years it’s not surprising that people are seeking guarantees to protect and provide for their loved ones. 71% believe products with guarantees are worth the cost and 67% of respondents did not fully appreciate all that could go wrong prior to the market downturn.
So, what product provides these guarantees? Participating whole life insurance. It guarantees:
- Level premiums that can not increase.
- A death benefit, or financial payout, that will go to your heirs.
- Dividends, once delcared, can not be reduced or taken back.
- Level costs of insurance that will not increase as you age.
In addition, there are a host of additional financial and non-financial benefits that whole life insurance provides. When it comes to loving and protecting your family…peace of mind tops the list!
Let’s end with a funny but practical video called “Insure your Love” put on by the LIFE Organization.
Enjoy Valentine’s Day with your loved ones!
Scott Storace
Tags: guarantee, life insurance, safety, whole life
