It's About Context...
Coping with the loss of a loved one is difficult enough in itself. When you compound the death without enough financial resources…whew!…That’s tough. I’ve witnessed the devastation of these situations both emotionally and financially on family, friends and classmates. It is painful and some families never recoup financially.
Having adequate life insurance can help ease the burden and provide your survivors with greater financial peace of mind. Your family can use life insurance proceeds to take care of many types of expenses for your family and loved ones, including:
You're working your tail off to build a solid financial foundation for family. You now have some home equity, personal savings, investment and retirement accounts. You may even own an investment property.
You’re doing everything in your power to create a secure and comfortable lifestyle for yourself and family.
So, let me ask you, have your really thought about how much you earn? I mean, if nothing changed about your current income, what would it provide for your family between now and when you retire?
Back around 2009-10, I came across a quote from Ben Feldman, one of the most prolific salespeople in world history, who said:
"Doing something costs something. Doing nothing costs something. And, quite often, doing nothing costs a lot more!"
Last time we reviewed the most overlooked insurance and the limits and limitations of government benefits.
Now let me ask the question: What would you do?
How long would you be able to keep a roof over your head, the lights on and food on the table, if a disability kept you off the job?
In Rebar to Cement Your Financial Foundation, the following table showed your future potential earning power until age 65 at various ages and income levels. It’s a lot of power!