I believe it’s important to talk with every client we serve about life insurance. This discussion is not designed to sell something to them, though many begin to put up an emotional wall when I raise the subject. My motivation is simply to confirm they have something in place. If at all possible, I want to avoid telling a surviving spouse I never talked about it with their wife, husband, or partner after a funeral.
I met with a new client in the Carrollton area two weeks ago to complete setting up her car insurance. Once that was done, she wanted to discuss life insurance. She has a term policy which is beyond the 10 year term it was written under resulting in annual rate increases. She wanted to know what her options are.
Sheri and I met up at a friend’s home in Carrollton Sunday night to watch the Super Bowl. It was an enjoyable time with good food, great conversation, and one of the best games I’ve seen in a long time. Throw in the commercials for some laughter and it was a great time with everyone staying until the clock ran out.
Are you financially prepared if your husband or wife dies? Based on the results of a study commissioned by New York Life, the answer is a resounding No! 68% of women survivors and nearly half of male survivors reported significant life changes following the loss of their spouse with financial concerns topping the list.
You’ve worked long hours to fulfill a dream and build your company from a surviving business to a thriving, successful business. Have you given any thought to succession planning; who will succeed you, and how it will be funded? Or maybe you’re a partner in a company and you want to protect the business you’ve helped build, but what if something happens to your partner?
I met with a young couple six months ago. They were expecting their first child and the husband wanted to talk about life insurance. The arrival of a child is a time when many couples explore life insurance and I was honored and delighted to be consulted to assist them.
I’m helping a couple in the Southlake / Colleyville area with their insurance policies. We redid their home policy and are discussing options on the husband’s life insurance. We began the process by reviewing what he has now and discussing what he wants to accomplish. I ask three questions in all life insurance discussions (see http://50.87.248.161/~wiseinsu/shopping-for-life-insurance-answer-3-questions-first/):
N Money profiled a couple, Steve and Pam West, on December 13, 2012. Steve was diagnosed with ALS in 2008, a progressive disease that is always fatal. At some point, Steve will literally be unable to breath. As it was at the time the article was published, ALS had taken from Steve the use of his arms and legs.
What does it truly cost to bury or cremate a Loved One? On November 9, 2012, Money Magazine published on-line the first in a three part series dealing with end of life issues. Part 1, The High Cost of Saying Goodbye, provided an excellent overview of pricing, sales tactics, and even deceptive practices that some disreputable companies and directors have used. The articles also presented a number of steps people can take to protect themselves financially at one of the most difficult times a surviving spouse or family will ever face.
I had lunch with a friend of mine the other day; we’ll call him Bill, not his real name. He needed someone who’d listen and provide some feedback to make sure he was on the right track. The conversation started with him letting me know he’d just gotten laid off from a managerial position he’s had for several years. The pain was obvious as we talked.
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