Thursday June 14, 2012 Using Life Insurance to attain PEACE: Prosperity Every American Can Enjoy

Welcome back. Hope you are having a fabulous day. When I was selling insurance I always made a point to listen to what my clients wanted. I know you are saying don’t all agents do the same? Well you tell me. Do you have an insurance policy that you know very little about? I hate to think about all the people who asked me why another agent sold them a particular policy that they were trying to figure out what the benefit was for owning it. I couldn’t answer that question and would always reply with my own question. Why did you buy the policy? No one could answer my question and I would tell them to call and ask the agent why. Don’t laugh it might be you.
When I retired from sales I went to work for a home office for a few years before I decided it wasn’t for me and ventured out to educate individuals so they would have the basic knowledge to understand what insurance is and does so they could make an intelligent decision based on their needs and financial situation. During my time in the home office I was amazed of the number of clients who did not want to speak with their agent because 1) they did not like him/her or 2) the agents would not return their calls. Many wanted to know what they bought and very few knew how their policy worked. Everyone wanted me to fix the problem that they themselves got into simply because they did not ask questions before signing the check. Most would get mad when I had to tell them I couldn’t.
Insurance, if bought correctly is our safety net to protect ourselves and our family for a fraction of the amount we desire. It is the only product we buy that will pay out more than we put in. You don’t have to be a rocket scientist to understand the benefits of insurance.
Today’s topic is on Life Insurance. So what is Life Insurance? Simply put, life insurance is a program designed to help compensate an individual for a certain loss. In years past, life insurance was bought by an individual to provide financial relief to loved ones in the event of their death. Today, life insurance not only accomplishes that but if the right policy is bought the individual buying the insurance could benefit while they are alive. Although life insurance is a simple product designed to pay a beneficiary after an individual dies, today there are so many different types and variations of products, even the person buying the policy can benefit while alive and still provide financial relief to loved ones after they die. Life insurance, like all types of insurance is bought to cover certain needs. When thinking of life insurance asks yourself what you want the policy to accomplish and how much you can afford to pay? Both parts of this equation are equally important. It will help you select the right plan and riders that fit your need and financial situation. Life insurance can be bought to cover personal needs as well as business needs. The need could be to cover a mortgage or set money aside for your children’s education. It could be to provide an income for a spouse or partner or maybe to help offset your retirement. Need money for a down payment on a home? Maybe your life insurance policy could help? Want to cover all these needs? Life insurance can help and it is possible to cover them all with only one policy. Because of the variations available with a life insurance policy you might best be served talking to a licensed life insurance professional. A licensed life insurance professional will know what is available and should be able to design the proper program that meets your needs and financial situation.
I am going to end here for today. Take some time to think and write down what you want to accomplish. Talk with your loved ones for input. Don’t rush it. After all it is your money you are going to spend so spend it wisely.
Tomorrow I will write about different types of Life Insurance and the benefits of each.
Have a great day. I said a prayer for you today. May GOD BLESS you and your family. Come on back tomorrow.

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