Monday, April 25, 2016

Everybody’s Doing It (including people like you)

Yes, this is another blog about life insurance. But it’s a positive message, no gloom and doom, no horror stories. I promise. LIMRA, the Life Insurance and Market Research Association, recently announced that more than six in 10 people in the US now own life insurance. There is also a direct correlation between age and life insurance ownership. The older you are, the more likely you are to own life insurance. In fact, about two-thirds of everyone in the 65-and-over group own life insurance.

If you are one of the 2 in 3 who own life insurance you are to be congratulated. If you are one of those who don’t own life insurance you really should take a look at your options. With the market offering policies of $2,000 in coverage and up you may be very pleasantly surprised to learn how affordable this coverage can be.

The reasons for life insurance ownership vary but most often cited are:

1.     Burial and other final expenses
2.     Replacement of lost income, and
3.     To help pay off the mortgage

Most of those who do not own life insurance, or confess to not owning enough life insurance, are uninsured or under-insured because they OVERESTIMATE the cost of coverage. Life insurance is one of the great bargains of the financial world and it keeps getting more and more affordable. The reason is simple…people are living longer.

It’s so smart to transfer the risk to an insurance company for just pennies on the dollar

Why burden your family with the possibility of financial instability when, for a relatively tiny amount of money, you can just shift the entire financial burden to a life insurance company? Doesn’t it make sense to use somebody else’s check book when the time comes to pay final expenses, replace lost income, or pay off some major debts?

It’s also easier to get than ever before

With hundreds of companies competing for your business there are more choices of life insurance than at any time in history. Your physical condition or past medical history are not necessarily obstacles to obtaining life insurance either. There are life insurance companies that offer guaranteed acceptance plans, no questions asked, all the way to companies that do complete examinations, lab tests, and even EKG’s. If you are super healthy, and don’t mind taking 30 minutes for an exam, you could qualify for exceptionally low rates. On the other hand, if you’ve had some bumps and bruises, or chronic medical conditions, there are plans that accept you with no questions asked. It’s up to you; you’re in total control.

We suggest that you work with an independent broker (like us) that represents many different insurance companies and plans. That way you avoid a sales person who tries to “put a round peg in a square hole”.

I’ll end where I began. As a country, we are better protected by life insurance today than ever before. But if the person to your left and the person to your right have coverage and you don’t you can count on us for choices, objectivity, and honest advice. Contact us at (800) 955-0418 or
Thanks for reading.

Alan Leafman , President
WorldWide Insurance Services, Inc.
Health Insurance Express, Inc.