I constantly talk to clients who are looking for Life Insurance, but for most of them there is a problem, they waited until they know they need it. Now the price has gone up drastically, simply because of their advanced age. Buy young!
From age 60 and even into their 80’s they search for an Insurance solution. One client, just yesterday, finally figured out that he needed Life Insurance. The problem is that he is now 82 years old. He was shocked to see a $400+ price tag per month for the amount he wanted to leave to his wife. Had he bought the same amount at age 35, he would have paid $34 per month.
- The beauty and reason for buying Life Insurance is that it helps the surviving family members to continue living without the financial strain they would experience without such protection.
- Another reason is that it can be viewed as a built-in savings account. Whole Life Insurance, Universal Life Insurance, and Cash Back Term Life Insurance all provide a Cash Value that can be drawn out if the Insurance is no longer needed.
Example: A 35-year-old male wants to protect his mortgage and/or provide a legacy for his family, as well as providing for his final expenses. He buys a $200,000 Indexed Universal Life Insurance Policy for $100 per month.
If he had put $25 per week, or $100 per month, in the bank for 40 years until he is 75, he would have $48,000 plus a tiny amount of interest. Had he put it into the IUL he would have the protection for all those years, AND would have accumulated approximately $85,000 in ready cash if he wanted it out. AND, he also has the choice of keeping the Insurance for his entire life. The versatility, protection, and cash accumulation make this a brilliant choice.
- Do not procrastinate. “Procrastination is an emotion regulation problem, not a time management problem,” said Dr. Tim Pychyl. Dealing with something now that we can put off until later is simply the smart thing to do. Putting it off can cause very unpleasant circumstances.
Be smart young people, call me today, and let me help you.