It takes more than money and good health. It takes a combination of caring, common sense, character, commitment and communication. The communication is in understanding the impact of the economic loss one’s death creates.
If your death will create an economic loss for your family, business, estate, community, college, church, or for your favorite charity, you need life insurance. If your death doesn’t create an economic loss for one of these entities, one might ask why not.
Common sense dictates that if it makes sense to insure against the improbable loss of one’s home, car, or other personal effects, it makes especially good sense to insure against the inevitable loss of income or capital created by one’s death. Does it make sense to insure the golden eggs and not the goose? Most people have either an estate tax problem, or an estate size problem. A person’s estate is the tangible representation of his or her lifetime. Why would anyone want their lifetime liquidated if there were a simple, cost effective alternative?
Life insurance is not something most people spend time contemplating, and yet insurance makes a major statement about them as individuals. Life is about relationships and the differences we each can make in the lives of others. When someone else becomes involved in your life, you agree responsibility for that person. Part of that responsibility is of an economic nature and that is where life insurance enters the picture.
As we said earlier, most people do not spend a lot of time contemplating these issues, altough perhaps they should. This is where the life insurance agent comes in by bringing these things to people’s attention and, frankly, sometimes people don’t like it. People who care, who are responsible, who have character, and who are committed to relationships, both personal and professional, generally are open to learning how life insurance can enhance the achivement of their goals and dreams. life insuance will keep their dreams alive when they die.
Responsible, caring people do not say, “When I’m gone, that’s their problem.” They don’t even think such a thing. It’s easy for someone to say, “I love you,” or that they care. Buying life insurance basically is putting your money where your mouth is.
Why are successful people more likely to buy life insurance than other people? Perhaps because they understand their value to others and the economic impact that their death will have. There is a low cost to having Life Insurance, but there can be a big terrible cost to not having it.