I Am Going To Live Forever “Please No Death Talk”

I try my best not to get annoyed when people respond to a question they really don’t have the answer too by saying I don’t want to talk about it. It’s better to be honest than to avoid a subject all together. I know I know Death, Dying no one wants to talk about it. We all want to believe we will live forever and happily ever after! Truth be told none of us knows when we will die, or how we will die. Talking about it doesn’t bring it closer to you.

However we must talk about what will happen to our Kids, Spouses, and Assets when we die, and if it happens sooner than later. With one of the most horrific Hurricane’s to ever hit South Texas and nearby areas of Texas this is the perfect time to talk about what would happen to your loved ones if you died suddenly. I have been talking about Life Insurance for over 14 years and how it’s been a blessing to so many families when the sudden happens, and the not so sudden. The most common questions I get asked is what type of Life Insurance should I get, and how much does it cost?? Those are really important questions we all should know the answers too. Here’s a brief explanation regarding those two questions. If you find yourself in need of a more in depth discussion please don’t hesitate to reach out to me. There are several different types of Life Insurance but for the purposes of simplicity and time I will only discuss two.

Term Life- It only covers you for a specified term (i.e. 10, 20, 30 years) at the end of that term the insurance terminates and you stop paying on the policy. Why would an individual want this type of insurance because it’s really cheap, allows you to get enough coverage to pay off a mortgage, send kids to college, major expenses with the proceeds from your death?
Whole Life- It covers you for your entire life or matures (pays out) at age 100 or 121 varies with different carriers, and you pay on the policy until death occurs or maturity. Why would an individual want this type of insurance because it builds a small savings from the interest on the payments you make to the Insurance Company? You can borrow from the savings, but if not paid back your policy may reduce by the amount you didn’t pay back at death. It’s much more expensive than term life insurance.

Now let’s get to the second question I am asked the most. Which one should I have? My answer is this will totally vary per individual, and their household. I know there are several well known famous individuals that will preach to you that one is garbage and the other is gold. My perspective on that type of attitude is one size doesn’t fit all! When I have to deliver a check to the door of someone grieving who just lost their loved one I don’t ponder over was it term, or whole life. I thank God that the insurance company did exactly what they promised they would do which was issue the check. It’s important for you to make the right choice.

My focus is always making sure I provide all the necessary education to help my clients make the right choice! I can tell you the wrong choice is no choice because there was no discussion. I say it’s time you and I have that discussion!!