Life Insurance Consumer Tips-Peace of Mind
Life Insurance Consumer Tips
by Duaine Owings, President Plan To Win Agency
====================================
Peace of Mind
====================================
Life insurance is purchased for many reasons, including tax-advantaged wealth accumulation; indemnifying mortgages and other debts; securing retirement; and guaranteeing your investments against market downturns.
In this issue, we focus on the “Number One” reason for buying life insurance. Namely, people want to provide for their loved ones. Life insurance brings peace of mind.
====================================
An illustration
====================================
The following poignantly illustrates the need to provide for one’s family.
Actress Molly Shannon, this year’s national spokesperson for Life Insurance Awareness Month, was four years old when her 33-year-
old mother and younger sister were killed in a car accident.
While her father survived the crash he was unable to work for several years because of the serious injuries he sustained.
Because her mother did not own any life insurance coverage, Shannon said the resulting financial strain on their family changed their lives dramatically.
“In an instant, my dad became a single parent and the onl breadwinner for our family. Even at a young age, I was well aware of the financial and emotional stress he was under,” she said
during her public appearances for the campaign conducted annually by the Life and Health Insurance Foundation for Education
(LIFE Foundation).
~ Life and Health Insurance Foundation for Education
Everyone knows a family that has suffered such a catastrophe. We all have seen the great difficulties facing the survivors, especially when money is lacking. We all know that advance planning is critical.
====================================
Why don’t people plan?
====================================
As simple as it sounds, one common reason is an aversion to math. If your eyes roll at the thought of calculating your insurance needs, then do yourself a favor and ask a financial advisor for help. This obstacle is easily overcome.
On the other hand, basic human psychology is a more difficult issue.
The key reason why people don’t plan is fear and discomfort with facing the prospect of family tragedy. Who wants to discuss their own demise and the potentially tragic consequences for their family? Yet, once this emotional hurdle is crossed, the life insurance purchase gets much easier.
====================================
Dealing with your emotions
====================================
Please understand that emotions are – by their very nature – not rational. Feel them, and deal with them, instead of suppressing them and procrastinating on your life insurance purchase.
Here are some tips that may help you.
(1) Watch the movie, “It’s a Wonderful Life,” starring Jimmy Stewart and Donna Reed. It very effectively portrays a man who had to envision his family’s life without him, and it served as a true wake-up call.
(2) Think about the important of your own peace of mind. Take a private moment (I call it “The Midnight Hour”) when you have your head on the pillow and are alone with your thoughts. And let yourself appreciate how much better you would feel if you did not have to worry about your family. Let yourself face the fact that your own fate is ultimately out of your control, but that you can control the impact of your demise on others.
(3) Get prequalified, to ease your mind regarding the cost. Prequalification is free, and it lets you know how much a policy would cost, without having to commit to the purchase. You may be pleasantly surprised at how affordable life insurance can be!
====================================
Have a question?
====================================
As always, our toll-free line, (800) 559–8777, is open at your convenience. Please do not hesitate to call me with any questions or concerns.
With best wishes for health and success,
Duaine Owings
====================================
About Duaine
====================================
Duaine Owings, is an independent life insurance broker and a recognized expert in field underwriting for people considered high risk.
Consumers and consumer advocates are warmly invited to email or call Duaine for experienced and patient guidance. Duaine currently serves as a preferred life insurance provider for many professional advisors and their clients, including attorneys, accountants, financial planners, and business loan officers.
Duaine Owings
905 NW Heatherwood Dr
Blue Springs, Mo 64015-7260
1 (800) 559-8777 Phone (Toll-Free)
1 (816) 224-9466 Phone (Local Mo)
1 (816) 224-9435 Fax
Licensed in: California, Florida, Iowa, Kansas, Missouri, North and South Carolina, Ohio, Pennsylvania, Tennesse and Texas.
====================================
Legal Notices
====================================
This newsletter is presented for educational purposes only. It is not to be considered professional financial, legal, or medical advice. Be sure to consult with your professional advisor when purchasing life