I’ll save you one and not waste the other…
In the world of Insurance, the younger and healthier you are, the less expensive it is to get protected. I talked about the many wonderful uses of Insurance in my previous post. Now, it’s time to look at what to avoid so you can save money and be a success in your endeavors in life. Fair?
PROCRASTINATE/ion – (In Spanish) Aplazar, (In Tagalog) Antalahin, In French (Tergiverser) – it doesn’t matter what language you speak, this is the biggest money burner in Insurance!
How many times have you heard someone say: I want to lose weight, or I want to get in shape…You can think of endless questions posed this way, I’m sure. What is my answer? Do it now!… what are you waiting for? Come on, you know it’s a responsible thing to do!
Same holds true when you’re thinking of purchasing LIFE INSURANCE. Do it now! There’s a false sense of security when YOU are gainfully employed. I encounter families telling me they have insurance coverage at work – and that’s wonderful! But people don’t realize that when you leave the company for any reason, the benefits don’t follow you. And when that happens, depending on how old you are, sometimes the only choice you’ll take is what’s the least expensive coverage for the shortest amount of time. Now, the question is – Is that what you really want?
What is your take on Life Insurance?
There is a correlation between your choices of insurance coverage and how you look at life in general. What do I mean? As I’ve shared previously, I favor Universal Life. I like it’s flexibility, the cash value accumulation and the lifetime coverage. On the other hand, people like the theory behind buy Term Insurance and Invest the difference. No arguments from me whatsoever. So as you can see, there are two(2) choices - Permanent and Temporary.
So, where is the correlation? Let’s look briefly…Looking at Life with Permanent Insurance – I fall under this group. It’s a permanent insurance which builds cash value. In the event something happens to me prematurely, my family is covered. In the event nothing happens to me prematurely and live longer , I can use the cash value or the insurance (when it’s my time), to pass down to my love one’s. I want to make sure the people I care the most will be somewhat financially secured. It doesn’t matter if my kid is married or not – but, that’s me. Looking at Life with Temporary Insurance. My sharing is based on what some clients share with me, ok? Term Insurance allows them to purchase more coverage for less money. They will try to invest themselves. They send their kids to good schools to receive education so they can take care of themselves and their family in the future. When their term insurance coverage is near expiration, they will renew. While some – feel they should be self liquidated at the latter stage of their life. All of the above thinking is not wrong at all… But, has a whole lot of holes with this strategy… Soooo…Two different views of Life…Two different insurance coverage. Seek the right answer for your unique situation!
Okay, let’s get back to Procrastination. You wanna save money? Ask yourself – What do I want my insurance to do for me? Get the facts, learn how to fund it properly(pertains to universal life), decide and re-visit annually. If you need it, or you feel the need for more protection, why wait? Putting it off will cost you in the long run.
Let me share something I read: Life Insurance underwrites Time It doesn’t guarantee time. WOW!
Give me your feed back Plzz…if you live in Calif. and need assistance in Life, Dissability and Mortgage Protection insurance with Living Benefits, let me know will you? Go to my contact page or e mail: ramon@insuregoldengoose.com
Take care…
