Life insurance goes beyond a transaction with a trusted insurance agent and a monthly cost. Many people in Chicago buy life insurance. When they are approved, they stick the policy certificate in the filing cabinet and forget about it. Most of us, subconsciously, think we are immortal and we will live a full life and pass on due to old age. One defining moment in time can change all of that, all in a flash.
The unfortunate thing is, accidents and illnesses do not discriminate. One day everything could change forever. When it happens you start asking yourself: Why us? Why now? The real world kicks you hard when you are down. On that day, you have to stand up and look at your family and say, “I did plan for this to happen, everything will be ok. I made a decision years ago to protect all of us.”
Maybe you did not plan for it. You still have time, but you have to act.
If someone becomes seriously ill, there is life insurance available that you do not have to die to use. Benefits are payable directly to you while you are still alive. This buys you time so you can focus on your family and your health. Life is a challenge when we do not have either one. The living benefits of a life insurance policy, if available in yours, will give you that piece of mind.
Even beyond the living benefits, the face amount of the policy, is equally important. Even if it is a topic that your family does not like to discuss, you still need to address it. Aside from the void that is left in your family once someone is gone, your family loses their ability to maintain the family’s standard of living. Many forget about this. Just paying off the mortgage, covering burial expenses and a little bit of cash in the bank is not enough anymore. Most likely, your income covered more, such as food, clothing, education, and maybe some family entertainment every now and then. All of that will be gone if you do not do the proper steps to plan. The planning will allow your family to continue with all the things they enjoyed.
It’s the promises we keep, while we are still enjoying the family, that is so important. Once our time comes, we cannot go back and change it. Even procrastination is a major sore point for families. Putting off the proper planning could result in the inability to qualify for what you need for your family; what they deserve. Time could be your worst enemy in this case. It is up to you, but waiting may prevent you from making that promise to your family. Make and hold that promise now.