Is Pizza More Important than Life?

 

Sounds like a silly question, right?!  Could someone possibly think that a pizza is more important than a human life, or better yet the life of a loved one?  No Jason ... that's just too silly to imagine.  Now, what a minute, lets talk this out.  First off we need to establish what we are really talking about here.  I mean a pizza dinner at let's say Monical's Pizza, in Linton, if you order a large pizza Meat Eater Special with breadsticks and sodas for 4 people would cost roughly $32 (including tip).

 

Does that sound about right?  I think it does, and I think most of us will have pizza at least once a month (it's reported that 70% of Americans do).  So that proves to me that Pizza is more important than life!  Because nearly half of those folks having pizza this month will say that they don't have enough life insurance (according to a LIMRA study in 2013)

 

"But Jason", you say in a whiny voice, "Life insurance costs so much and pizza is so cheap!'  Most Americans greatly over estimate the cost of a life insurance policy.  For example, a non tobacco using man age 30 who is good health and a normal body weight can get a level term policy with a face amount of $500,000 for $28 a month.  How much does he need?  Well if he is 30 years old and he currently provides $40,000 a year for his family, he will earn $1,400,000 over the next 35 years until he retires, at age 65.  So lets say he wants to be worth 1,000,000 .. guess what the monthly cost would be?  About $46 a month or less than a pizza dinner and one trip to the Linton movie theater (full price adult tickets are $6.75) for a family of 4 ...

 

Life insurance is affordable and necessary ... don't make dinner and movie more important than your family's security.

 

Jason

How much will you donate to the government when you die?

How much do you want to donate to the government when you die?

Is your savings account earning you 2% or more?

Two silly questions but if you leave money in a savings account, you will donate to the government when you die even before your heirs get one single cent.  

The average interest rate being paid by a savings account today is less than a quarter of a percent.

If you deposited $5,000 in a savings account that paid 1/4% APR you would have about $5063 at the end of 6 years (assuming  the rate didn't decrease over that time).  If that $5,000 account gets caught up in the estate, it could be reduced by any taxes owed by the estate.

EXAMPLE 1

If a 35 year old woman in good health who does not use tobacco deposited that same $5,000 in a single pay life policy, her cash value at the end of 6 years would be $5,130 (twice the earnings from the average saving account).  Plus, if she died during that 6 year period her heirs would receive $14,470 (nearly three times the deposit amount).  The proceeds at death are paid directly to your designated heirs (tax free) and the government is left out of the loop.  If you need the cash you can cancel the policy and withdraw the cash value at the time you cancel ($5,130 at the end of year 6).

EXAMPLE 2

If a man age 65 in good health wanted to donate an sizable amount to his church but retain control of the funds in case he needed them, he could buy a single pay life policy for $51,949 with a death benefit of $100,000.  When he passes the church gets nearly twice his original donation, but if he needed to use the cash for an emergency it could be withdrawn.

EXAMPLE 3

A woman age 45 in good health inherits a $60,000 CD from the estate of her mother.  She wants to pass that on to her children but there are 3 of them and they are very young.  She can deposit the $6,000 in a single pay life policy and capture a $250,000 death benefit for her children, but if she needed to use the cash for an emergency it could be withdrawn.

 

If you are under age 84 and in reasonable good health, then let me talk to you about making more with your money or at least not giving it to Uncle Sam.

... and Kumquats for all!

Before I entered the insurance industry I worked in sales for the natural product industry.  Vitamins, and herbs and lots of things on the fringe of health and nature.  We had two big shows each year, one on the East coast in the fall and one in Anaheim California in the Spring.  In any small industry you find friends and develop traditions and this was no different.  I have a friend in LA that would come to the show and bring me kumquats from her back yard.  Fresh kumquats are crazy good.

They are sweet and tart all at the same time, the little fruits look like grape sized oranges with very thin skins which are edible and in fact the sweetest part of the fruit.  Since I left that industry I've gotten a couple of shipments from LA and this year one of those amazing shipments arrived bringing great joy to me (mostly me cause I'm the only one that really likes them that much in my family).

 

My buddy grows these wonderful little fruits in her back yard and when I get them I make jellies, pickles and candies from them and ship some of those goodies back to LA.  This is a good life example, we all do what we do.  I don't try to build houses and my carpenter friends don't try to offer life insurance.  In the same way my LA kumquat connection doesn't try to make kumquat pickles and I don't try to grow the tropical fruit in Indiana. 

 

We all have special skills and we should accept that in some areas we need an expert to guide us.  If you're not an insurance agent you should find one that understands your business, home and life so that they can tell you want you need.  Don't try to figure it out yourself to save a dollar with some online company.  Get a real live person that you can trust and talk to who doesn't have a strange accent.

J

Call me to review you insurance program and make sure you are paying the right amount for the right coverage.

Old guys are the lucky ones!

Time marches on ... we all know this and yet looking back on the days gone by, we all seem to say, "where has the time gone?"  But I must say that as I slowly become an old guy, I find that I feel like a really lucky person.

 

I've had both success and failure in my life ... so, I know what I can accomplish but, I'm not afraid of missing the mark.  I've seen peace and war, both up close and I know that one can not exist without the other.  I work hard so that I can have sometime to play, and that makes me understand the value of both work and play.  I have enough money to pay my way ... but not enough to make me greedy.

 

As we get older we realize that it isn't the money, fun times, peaceful world, or successes that make us happy or even lucky.  Happiness and indeed luckiness comes from a generous helping of life!  The messiness, the highs, the lows and the craziness of a life through the years makes it more valuable to the person living it and more interesting to anyone that is observing it.  Some folks will tell you that success comes from planning for the future and there is truth to that, but success is not the only element of life worth pursuing. 

 

So here is the last word from this "old guy" in training. Plan what you can, accept what you must, pursue what you love and give 'til it hurts.  When you look back at the days gone by, you'll still say "where has the time gone", but you'll feel like the luckiest old guy on the planet.

 

J

 

Here's my commercial for this post.  Life insurance is only for a person that owes someone or loves someone.  If either fits you, call me for a quote.  It's a lot less expensive than not having will be for your family.

New beginning, for an old dude!

At the start of each year we all kind of take stock.  I look back at what I've accomplished, and what I failed to accomplish.  I also look forward at what needs to change and what I want to make better in my life.  We all do that to some degree, don't we?

Sometimes it's more a function of what really works and what is most practical.  My friend Else sent me this week's picture.  Her friends all had their iphones with their Otterboxes to protect them in the rain and she has a nondescript phone in a ziplock baggy!  We joked about it being a redneck Otterbox but in truth it is a wise use of her resources for a tool that will be out dated before she can graduate college and find a job that will pay her enough to afford the iphone in the first place.  That's sort of what I've done this new year.

I left the insurance agency I was with to join one that will offer me greater opportunity to help people find the right policy for the right price.  I now have 20 or 30 different companies to write insurance through, not just one.  So now I can focus in on what a person needs not what I can insure ('cause now I can insure it all).

Life insurance, commercial policies, homeowners, auto policies ... coal trucks, restaurants  homes, antique autos, and just about anyone's life.  Better products, better prices, and most importantly better coverage.  

Yes this year I'm making the best use of my resources and I'm using those resources to help my friends and family insure the things they own.  So, call me for you insurance needs at 812-384-3575 for my Bloomfield office or 812-847-8141 to reach my Linton office.

I hope your new year inspires you to make the most of what you've got and perhaps create a unique style all your own.  See you soon!

Life insurance is more important than any other type of policy, let's talk about why!

One sad Day!

You know this business is great!  Everyday I get to help people protect themselves from disaster.  Insurance is there to stop a loss from being total.  Everyone wants maximum coverage for the minimum premium but, in general we all know that insurance is a necessary part of life that will someday help us out.  However, one type of policy is more important than any other. 

Here's a quick story about a man named William Pettry, who flew to Jacksonville Florida Friday, October 5th to watch his favorite team play, the Bears.  That Sunday at a local bar in Jacksonville William was murdered in an unthinkable way.  He was stabbed to death right in the middle of the bar.  Now they caught the guy right away and have a confession but that won't help Mrs. Pettry.

You see William leaves behind a wife and three young children and no income.  Mrs. Pettry will struggle to pay the funeral costs but that is just he beginning because William's contractor business will not continue to make money without him there and they had no life insurance on William.  Mrs. Pettry is a stay at home mom that takes care of 3 young kids, so now she has to leave her kids, get a job, and pay child care to make ends meet, because he husband's income will no longer be there.  Not only will he not be there to see his kids grow up, take them to the doctor, play baseball with them, hug his wife when she has had a bad day, fix the toilet, and all the other things he did but his current and future income is all gone!

If William had just spent a couple of dollars a day on a term life policy, his family would not have to worry where next week's mortgage payment was coming from.  Don't put your family in this position!  Life insurance is cheap!  It's important! and you need to get some!  Call an agent that you trust and buy a policy today! 

J

Ask me for a quote!

Hello ... my name is Bob!

You know this blog really started out as an educational platform for the everyday person to better understand insurance and though I share experiences and thoughts on many subjects it remains the Beginner's Guide to Insurance.  So I thought we'd spend a minute talking about life insurance. 

I just want to put a thought in your head ... what happens if you die?  I know, I know, you've got a ton of life insurance and your loved ones won't ever have to worry or work again, right?

But I'm talking about real stuff, like who do they call?  How long will they have to wait for their benefits?  What should they do with the money?  Should they pay off bills?  Should they put it in the bank?  Buy a new TV ... come on!  Have you talked about this stuff?  or better yet have you written it down? 

Start out by writing down all the life insurance you have through work, on your credit cards, and that you personally own ... put the contact numbers for the agent next to each.  If the contact number is some 800 number that goes to India where a faceless "Bob" will butcher your family name and make you repeat everything twice then perhaps you should consider calling a local agent that you know.  Because a local agent will care that you've just lost someone and they will be easily accessible if you have questions.  They will work with you to figure out what the best use of the money is.  Once you've got that together write down a plan ... what bills to pay and what ones to wait on, what to save and what to spend.

Just a few minutes of discussion and some hand written notes put together in a folder in the lock box will be a comforting reminder that you and your lost love one had a plan even if the worst thing happened.  Who knows may karate lesson will be in the plan.

J

Lets talk about you life insurance program!

Paying for College ... Ugh!

One of the worst things in the world is getting the bill from your child's college, and if you make them be responsible for part of their education it becomes one of the worst things ever for them (of course that feeling in a teenager only lasts for about 30 minutes then they are on to more important thoughts like "what time is Real Housewives on?").

Of course planning for your child's college is painful too ... when they are one year old you are thinking, "how can I make their life better than the one I have?"  In today's world, an education is so important that we all jump right to that thought ... paying for school.

First ... let me tell you there is no wrong way to plan for their college fund!  Unless you don't plan ... which is the same as planning to fail!  I know it's crazy confusing but maybe this 2 minute blog will help you out.

If you get paid every 2 weeks and you put just $25 per pay period in to an annuity for 18 years at just 1% growth ... you'll have $12,000 to give your child for their college.  25 bucks is less than the cost of taking a family to McDonald's for lunch one time, it's about $2 a day for every work day or 2 Pepsi's.  So even a little grows a lot when you've got a long period of time to work with. 

The 529 College savings plan will give you some tax benefits and allows anyone to donate to your child's education but it comes with a lot of strings, not the least of which is they have to use it for college (so what if the join the Army and start a family).  You might start one just so the grandparents can put money in when they feel like it, but save on your own to get more control.

What do I recommend?  Well, I glad you asked ... I say that if you are serious about your child's education you need to plan for the worst case scenario ... what if you die in a car crash a year after you start saving? How will your spouse put money in the fund?  What if you save all that time and your child gets a full ride or joins the Army?  How will you get your money without a penalty?

Here is my simple generic advice when looking to save for the children's college ...1) start saving at least a little each month in the bank or a money market account.  2) take out a life insurance policy to protect the college fund from you dieing too soon.  This can be a term policy which is cheap or a cash value policy that will grow in value which ever you are comfortable with.  3) open a 529 savings plan and let all your relatives and friends know that they can put money in it for your kid (doesn't hurt to ask).

You need to speak to a financial professional that you trust (financial adviser or insurance agent) to see the best way to go and to measure your personal risk tolerance.  Be sure you trust them ... then start saving ... even a little will be more than nothing.

Ask me about protecting your child's future! Click here!

The Best Gift Ever !!!

When I was a kid I used the phase "the best gift ever!" quite often.  Maybe I was easily impressed or perhaps I had a grandiose way about me.  Either way, I'm sure that the person who gave me the gift felt good about getting me something that I really loved. 

Christmas time is a great example of how giving and receiving is an important part of life ... both for the giver and for the receiver.  Nothing feels better than being able to get someone a gift that hey love, so in a way the receiver is the most important person in the exchange of a gift.  Without those that would receive ... our gifts would have no value.

Have you ever given a vagrant with a sign some small donation or helped a young mother pay for groceries while in line (when she didn't have enough to pay for them)?  Made you feel good, didn't it?  Well sometimes we who have look down on those that don't have ... not concisely, it's just sometimes we time, "why don't they just get a job?" 

We should however remember that in God's world we all have a role and no role is more important than the next.  So the beggar is just as important as those that donate.  Our role in the gifting process doesn't determine our value only our reward.

Merry Christmas ... may the gifts you receive bring you great joy and the gifts you give be joyfully received.

J

Giving your family the gift of life insurance will make the difference in paying for food, heat, and medicine if your pay check stops when you die!

How to fix your Church?

Our church just voted to spend a lot of money on remodeling the kitchen and updating our electrical service along with some other renovations that need to be done.  If you've ever been involved in a church project like this you know that from concept to completion you have a lot of different ideas and concerns to consider.   You see a church board listens to an idea and discusses it for a long time and the community may change it's mind about the project over a two year period.  Very often what some see as necessary others see as an extravagance and many folks will change their minds back an forth more than once based on new evidence or a different point of view.

However, more often than not the final decision will come down to one question ... can we afford it?  Even if the money is in the bank (and it usually isn't) people will ask that question.  All kinds of non profit look for ways to make sure they have enough money.  In a church we collect a weekly offering that helps pay the bills and we ask for special offering to fund projects like the one we are doing now.  But imagine if the church decided to build a new kitchen and they had the money in the bank, how cool would that be?  Remove the question of how do we pay for it and you can focus on much bigger questions like ... "how can we use this new kitchen to glorify God and do his work her on earth?"  But how does a small town church acquire enough cash to do this kinds of projects?  Well there are many ways but the most common is Memorial gifting.

Giving a final gift at your passing or a give in memory of someone you love who has passed on is the best way for a church to fund construction, or mission work, or community services.  This can be land, autos, cash or life insurance proceeds.  As an insurance agent (and a guy without land) I like the idea of a life policy for the church.  If you are 40 years old and buy a 20 year return of premium life insurance policy to secure your gift to the church (with a death benefit of $100,000) then if you die before age 60 the church will get $100,000 (a poor substitute for all the tithes they will lose by your passing) but if you live to age 60 you set it up so the church will get $14,000 at that time or $37,000 when you do pass away.

A 35 year old man could pay $10 a week and not have to pay any more after 20 years.  This would give the church a $35,000 payment if you die plus the death benefit will increase year after year and at age 60 it would be $52,000.  There are a hundred examples of how to leave money but the bottom line is, no other method of giving back will pay the church a set figure no matter if you only made one month's payment to it!  You should speak to your insurance agent about this option ... I know I am going to!

J

How to Give Enough!

Our church is in the process of a remodel project and in the course of that project we are forced to think about future projects that will involve construction or at the very least sizable sums of money.  We are fortunate enough to have a nest egg that was left by a generous donor to build or remodel as we need to, but that gift which was given some time ago is pretty rare. 

To be frank, how many of us have enough money now that we are whiling to give a large chunk to the church before we die which out worrying about possibly needing that cash to live on before we die?  Most of us who are church goers would like to leave behind a legacy but we can't afford to lose control of the money that we may need if our retirement investments take a turn for the worse once we are relying on them for our income.  Sometimes it seems that the days of the big donors are gone, but some young people are planning ahead now and securing their legacy before it starts costing too much.

A 65 year old man can plan to leave $25,000 to the church by putting it in his will and having the money in a money market account just in case he needs it.  But who knows if that will even be left for the church by the time he dies, taxes and probate expenses can eat up the proceeds and lessen or eliminate the money this gentleman wants to leave behind.  The same 65 year old can put that $25,000 in a single premium life policy and the church will get nearly $45,000 before the rest of the estate is settled.  If the man out lives his saving he can always withdraw the cash and use it to live on, but for now he has protected his legacy.

A young woman age 25, wanting to inspire young people after she is gone can leave a $100,000 gift to the church and pay only $13 a week for a life insurance policy (plus she can stop paying all together at age 40).  Her gift can be used anyway she wants, to build a school room, pay for mission work, or create a youth program.

Young or old ... a lump sum of cash or a few dollars a week ... using life insurance to leave a legacy to your church is just a smart way to do it.  You can help your future church leadership expand, maintain or recreate and help show them the true meaning of Christian love.

Call a life insurance agent that you trust and talk about how you can create a legacy for the church and still have a safety net for your finances.

J

What would happen ... ?

This week reminded me that my job is to ask the questions that no one wants to ask.  I'm here to say "what if?" and not in a good way most of the time.  What happens to a child if a single parent losses their life?  Would the estranged ex spouse take on raising the kids?  Would the Grand parents put off retirement to take in their grandchildren?  Would they have enough money to take care of them?

Not real fun stuff to talk about, in fact it is much like growing old (if you read my last post you know I think that getting old sucks).  But if you never talk about the possibility of your children losing their only source of income, they'll be in trouble if that day comes. 

I suggest that you call an insurance agent that you trust and talk to them, like I said our job is to ask the questions that you don't what to or even know to ask.  Many times just talking about the need is exhausting but getting protection in place for your children (or spouse) will give you piece of mind. 

Nope it's not fun but just like getting a cavity filled, it may not be fun right now but you'll feel better when you get it done.  There are lots of options but remember the best option gives you all the coverage you need!  If you can't afford what you need, something is WAY better than nothing!

Leave a legacy!

With the passing of a great Hoosier philanthropist (Mr. Cook) this past week, it got me thinking about leaving a legacy.  What will the future generations remember about you?  Will they remember that you supported the baseball teams for 20 years or that you helped add on to the church building?  You don't have to be a billionaire to make an impact and leave a legacy that your grandchildren will be proud of, you just have to plan a little bit.

Let's say you love basketball and you want to build a basketball court in your hometown park ... you don't have enough money to build the park and it will take you 20 years to save it up. 

What happens if you die before the end of that 20 year period?  Will someone else continue to pay into your dream account that will someday get the park a new court?  Probably not ... and the money you were saving toward it will be lost in the estate once you are gone.

A better idea is to take out a life insurance policy on yourself that names the park (or a fund set up for the construction of basketball courts) as beneficiary.  When you die, no matter if it's next week or in 30 years, the charity, club or institution that you support will receive a gift in your name that will be a legacy your grand kids and the community will brag about for decades.

After the Storm!

After a thunderstorm blows through, I always feel lucky.  First off, if I'm there to see the end of the storm then I survived it ... plus there is a feeling of calm once nature is done beating you down.  Of course there are times that I will have damage to deal with and sometimes my community will be suffering in the wake of what ever has blown through Southern Indiana this time.

In recent years because I'm in the insurance field, I find myself looking at the damage done by a storm and accessing the possible cost and such.  Even if I don't know the people who's home, or yard I viewing ... I will still try to imagine the cost and coverage that they would need (or perhaps not need) and what the out come would be for them in different scenarios.

It's a fun exercise for me, but the same thoughts are unnerving for the person with a storm loss.  Are you covered?  How much will this cost you?  How long will you need to wait for the repair?  As an agent I would recommend that you review your coverage each year and ask those questions.  Most of you won't remember the answers at first but it's important that you get your agent thinking about it because it's their advice that you rely on to protect your family from loss.

No one really wants to take time out of life to spend it talking about storms, wrecks, and death, but just an hour a year to review your coverage and ask (or answer) tough questions about the risks you and your family face can make all the difference when something happens to your home, or auto or even the loss of a life.

J

Special kids ... Special Needs!

I took a little time to visit the Easter Seals in Indianapolis last week and had a great time and really enjoyed seeing the great work they are doing.  The Indianapolis center is geared toward helping autistic adults and children learn the skills they need for a lifetime.  Everything from job training to loaner technology that can help them communicate (the get to try before they buy to see how well it works for them).

The social worker that gave us the tour was understandably proud of the center and the work that they do, and I was amazed and all that was available.  I went with a special needs consultant that I am working with to get plugged in to the current system.  We are looking to help those families that need a hand in planning for their special needs child ... someday that child will need financial support and their parents won't always be their to supply that need. 

Buttermilk Mountain is a special needs consultant that has years for experience.  They are helping me better understand the specific needs of families that have a special needs child, who will never be able to provide for themselves.  As an insurance agent my role is helping to fund the special needs trust that will provide for those kids for the rest of their lives.   Life insurance is the best way to fund these trusts.   I'm really excited to start helping those families create a lasting legacy for the children that bring hem so much joy.

I will write more about this subject in the near future, as it is near and dear to my heart!

J

Did you lose some money?

Things don't always go as we plan , and sometimes that can get in the way of receiving all the money that is due to us.  I know this from experience, but then again who hasn't left town and forgot the $10 in a savings account.  Or perhaps over payments on property taxes and utilities that are forgotten as you move to a new location, job and life. 

It's hard to find those lost bits and pieces even knowing where you've been, but imagine if you didn't know that money was left there.  Imagine if it was left by a relative that you knew or maybe just knew but rarely spoke to.  

Imagine that an Uncle left a life insurance policy and you were his closest heir, but he lived in Seattle and you only talked to him once a year.  The life insurance company may find out that he passed away within a few months but they won't necessarily know who you are and where you live.  In fact many states make a healthy revenue from the languishing life insurance proceeds that can not be paid to the heirs.

One expert from IU stated that an estimated $351 million was transferred to the state governments in 2009 and he feels that is a conservative number.  So how do you keep from leaving your legacy to the state government? 

First off, find a life insurance agent that you trust and review your life insurance with them every year.  Make sure that your agent knows what group term you have through work and if you have any policies through other companies that you don't have an agent with.   Your agent will make a record of these policies and be a resource for your loved ones when you pass.  A good agent will be in your community and will know if something happens to you.  They will be able to speak to your spouse or children and guide them through the process as well as helping them get all the benefits you have in place for them.

If you think a loved one may have left money or life insurance behind you can search for it here http://www.unclaimed.org/ at the National Association of Unclaimed Property Administrators.

Read more in the New York Times article linked here http://www.nytimes.com/2011/02/26/your-money/life-and-disability-insurance/26wealth.html

Romance is in the air!

Well it's Valentine's Day and I'm sure all you guys got your gals something romantic.  I know I did!  But let's look at what the experts say about the most romantic gift you can give.  Now before I tell you this I just want to make sure you know that the statistics I'm about to show you are true and real ... even though it's hard for me to say them with a straight face.

However, anyone that knows me, knows I'm a shameless self promoter and I've made no secret of the fact that I'm in insurance and that this blog is mainly for the purpose of promoting my business.  I mean, the name of this blog is "Beginner's Guide to Insurance". So I'm going to just come out and say it.

88% of women surveyed think that buying life insurance is a good way to show that you love them!  I'm just saying!

For just a few bucks a month you can give them piece of mind and more importantly the bill each month will remind them that you love them.

Call me if you want to show the woman in your life that you really love them!  :-)

What's Important to Hoosier Families? (blog post)

Google trends is a pretty cool feature on Google.  If you've never used it, you should check it out.  You go to Google Trends online and type in a search term and region (like Indiana) and Zoweee! It tells you the volume of Hoosier searches on that topic.  Cool stuff, indeed. 

Well, today I google trended "Life Insurance" as well as home, auto, and health insurance ... do you know that home, auto, and health did not have enough searches in the last 30 days to show up on this trend counter but life insurance was on evereyone's minds.

I also noticed that there was very little searching for life insurance on Sunday, it was mainly done during the work week.  Perhaps it is our daily interactions at work that make us feel our mortality or maybe we just have more free time at work than at home.  Anyway I thought that was interesting.

I also think it is interesting that the most important and complicated insurance there is is the only one that had enough people searching online for it to even register on Google Trends.  Shouldn't we talk to a real live person about the important stuff?  Can we trust Wikipedia for the really important stuff?  I don't, I try to find people that are experts and discuss my options with them.  Online experts don't have to look you in the eye (neither do the TV experts) so they don't suffer if their advice is not right for you.

Life insurance is an important topic in Indiana (more so than any other insurance type) so call an Agent to get your questions answered, because they will see you at Walmart and CVS each week and that makes them (including me) much more motivated to tell you the best information you can get.

Who pays the price?

Who pays for the mistakes of others? Very often it's the ones who can afford it the least!  A week or so ago I read a story about a young man age 28 who was driving a mini Van to pick up his two young daughters.

http://abcnews.go.com/Blotter/ford-windstar-van-defect-allegedly-fatal-crash/story?id=12453337

Because of a design flaw the rear axle broke causing the young man to wreck and die before his daughters got to see him one last time. 

Reading the story you feel a lot of different emotions; anger toward the auto maker and the government, sadness for the girls and their mother, worry for your own family.  Think about it, what would happen to your family if that was you or your spouse in that van?

In the distant future a lawyer will declare victory in some class action suit where the multimillion dollar reward will be cut in half to pay the lawyer, then the rest will be divided up between the 800 or so people that reported accidents caused by the defect.  No, the widow won't be able to depend on that money. 

We can only hope the auto maker pays in some way for this loss but the truth is that the father's life insurance will have to replace his income for the family.  Hopefully he didn't rely solely on the group term life insurance that he has through work.  Hopefully, he and his now widow took a couple of hours to review this possibility with their insurance guy, and they came up with a plan to cover the lost income in the event he died before his time.

Life is short and none of us ever know what is going to happen tomorrow, so always make the last word your loved ones heard as they exit the door, a kind one.  Enjoy your husband, or wife and your children each day, because they are only with us a little while.  Plan for the worst and celebrate everyday that the worst doesn't happen.  And make life insurance a part of your plan!

J

The Perfect gift!

I'm always looking for the perfect gift and with 5 women in my family it isn't easy.  Is it in style?  Will it fit right?  Is it the right color?  Did her best friend just get one like it?  The wrong answer to any of these questions will render the gift a failure and probably doom it to be re-gifted to a lower level friend in the very near future. 

So, what can you get that your daughters, granddaughters and wife will love?  Well they may not love it now but a life insurance policy on a young woman will greatly help her in the future.  If you secure a whole life policy for them while they are young you are making sure that they will have life insurance at a reasonable price for their whole lives.  That's not something that you think about until the insurance guy tells you that because of your age we have to charge you a bucket load of premium for a small policy. 

Fact is that the younger you are the cheaper it is to insure your life and once you own the policy it doesn't matter what your health is as you age.  That policy will be there when you need it most.  I know a lot of supposed experts are saying that you should never buy whole life insurance (they say buy term and invest the difference) but when you can get a $50,000 policy for $16 - $20 a month on a young person and lock in that price for the rest of their lives why won't you?  You're not going to invest the $6 or so that you'll save with a term policy and the term policy will increase in cost throughout their lives.

There are a lot of reasons to buy a whole life policy for the young people in your life but the most important is that you will assure them of affordable coverage for all their lives!  This is just the right size, the right color, it's always in style and it will give them and their family benefits for decades to come.  No, it's not the prettiest or flashiest but you buy them that stuff all year long, for Christmas get them something that they will thank you for on their 40th birthday!

Good luck Shopping!