Here's How Boring, Old Life Insurance Can Save Your Family From Financial Devastation
DEATH AND TAXES.The only 2 things guaranteed in life and neither of them sound any fun, right?But sometimes you need to talk about the serious stuff, so please, hear me out.Would you want to leave your loved ones with a burden if anything was to happen to you?Would unfortunate circumstances bring devastation to your family?Don't neglect your financial responsibility to your family's future!
Life Insurance is Boring
Introducing: LIFE INSURANCEUgh! Sounds boring right?Life insurance seems like something 70-year-old seniors discuss when they’re playing weekend bingo.But it is so important for people of all ages.If you don't think so, then listen to this story…Let me tell you a story about a person named Ron.Ron's family was the typical family, like your's or mine, worrying about the things we all worry about and striving for things we all strive for.He was starting a fulfilling career, with a budding young family and well respected in his community.His wife stayed at home to care for the 2 young kids. They had just bought their first home and a 2nd car.So anyways, last year they were about to embark on their long-awaited summer road-trip to beautiful Banff. A lot of excitement had built up and it was the kids first time going to the mountains.The car was all packed, and the family headed out for the 3 hour journey to the stunning Rocky Mountains.Unfortunately, that fateful day they never made it to their destination....
A brutal head on collision with a semi-truck shattered everything.Ron immediately died on the scene, but his family escaped with some injuries.The trauma, both physical and mental was enough to last a lifetime for his family. But the financial grief was waiting in the shadows.They had lost the breadwinner of the house.
From his workplace Ron had a group insurance policy but this was barely enough to cover some of the debt they had.There were mortgage payments, car payments, credit cards and a whole lot of other expenses due.
You see, this can happen to anyone.Life can be unpredictable and short, so we need to be proactive about our family’s FINANCIAL future.Would you want to leave you're widowed wife and young children with a burden they cannot pay?Now this story wasn’t meant to scare you but to raise your level of awareness.Life insurance, for a few dollars per day, protects you from being a victim. A victim of fate, bad luck or whatever you want to call it.
Throw- Away your Misconceptions
There are many misconceptions about insurance so let me clear these up.Misconception 1:
My work provides enough coverage, I don’t need more insurance!FALSEWhile work can provide great coverage, it might not be enough to cover all of the debt you carry.Oh, and did you forget how expensive funerals are? And maybe you want to leave your family something a little extra, like a parting “gift”.Misconception 2:
Isn’t home insurance the same as life insurance?NO, IT IS NOT!Home insurance is coverage for the house and NOT for unfortunate situations like accidents and death. Home insurance covers damage to the house not you.Misconception 3:
Life insurance is expensiveFALSELife insurance is an investment.Did you know there are three major things in Canada that are not taxed? Lottery winnings, your Tax-Free Savings Account and Insurance payout.In a world where death and taxes are certain, here is your TAX-FREE HAVEN.Now, imagine getting back 3 to 4 times return on your investment. This is what you could get with life insurance.ExampleThe policy premiums every month might add up to $100,000 over the entire course of your policy but does it matter when the payout is $300,000 to your grieving family.Where else can you triple your money in such a safe and secure manner without speculating on volatile investments?Life insurance is THE foundation of financial security, now in the present and for the future to come.It’s better to have it and not need it, than to need it, but wishing you had it. Kind of like pepper spray when walking down a dark downtown alley at 2 am.It’s an insurance policy.
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