Were You Aware: It’s Life Insurance Awareness Month
September is more than half over and perhaps a “round to it” is needed. One of the reasons people don’t have insurance is because they don’t get “a round to it”. Life insurance is an important part of a financial program, because it helps protect loved ones left behind.
Life insurance is generally less expensive when people are younger and do not have medical conditions. Therefore, you can usually save money on premiums by not delaying the decision to obtain life insurance. Even If you have a medical condition, you may still be eligible for life insurance protection. And, if you currently have insurance that you have owned for 5 years or more, you might save money or access greater coverage by allowing your financial professional to put your policy on the workbench and see if more favorable conditions might be obtained.
Life insurance can help to replace lost wages, replenish assets eroded by expensive medical bills, and give survivors financial confidence for the future. If something happened to you, how would the mortgage be paid? How would tuition bills be paid? How would your spouse/partner, children, or others who depend on you have enough money to maintain their residence, pay their bills, purchase essentials?
If you’ve been thinking about life insurance, there’s no time like the present to get started. Celebrate Life Insurance Awareness Month while it’s still September!
The opinions are solely those of the author. Seek advice from a qualified professional before taking any action in regard to your finances.
Todd A. Slingerland, CFP®
6 Tower Place Albany, NY 12203
(518) 867-4000 x103 [email protected]