As the Blue Oyster Cult classic croons, ‘All our times have come, here but now they’re gone… Come on baby, don’t fear the reaper.’ And as one of the most popular skits in the history of Saturday Night Live says: we need more cowbell.
Although we shouldn’t fear the reaper, and we feel we might have lots of time, life sometimes has a way of making other plans.
No matter how well or how carefully we lay out our groundwork for our future, sadly, an unpredictable and disastrous event may always occur.
Maybe we zigged when we should have zagged. We turned right instead of going left. We hesitated when we shouldn’t have.
Life is precious, but it’s also precarious and unpredictable. In some situations, we’re one second too slow or too fast, and then the course of our life – and the lives of our family – changes forever.
A young family is out for a drive to visit a relative, and they are hit head-on by a distracted driver. A group of friends – experienced skiers – go ‘off piste’, only to confront a sudden avalanche. A routine visit to the doctor reveals a terminal illness, such as a subtle cancer now at an advanced stage.
Sadly, we hear stories every week with similar circumstances: a young family plans well and long in advance for what they think protects their financial future, only to overlook one of the most important mechanisms to protect their household’s well-being: proper, effective, life insurance coverage.
Since no one knows or expects a tragedy to unfold when they leave their home for a normal day, proper life insurance is frequently put off in procrastination. This means that after an unexpected death, the remaining partner or spouse is left holding a precarious financial future for their family in their hands if one person never comes home again.
We have often met prospective clients and friends that believe their life insurance coverage is appropriate, only to have a tragedy strike, and realize too late that their life insurance policy – often purchased through their employer – is weak, and perhaps only two times their income; not close to enough to cover their home’s mortgage or their children’s expenses after they’re gone.
Luckily, there is a way to avert this scenario and protect ourselves and our families. Despite never knowing what the future holds, there are powerful insurance mechanisms available today to safeguard you and your family if the unthinkable should strike.
Contrary to popular (and mistaken) beliefs, life insurance is available and recommended for anyone at any age who has people dependent on their income or human capital. It’s for individuals in great health, and it is a sound investment considering the potential downfall and risks of not having appropriate coverage. Your financial security is insured for pennies on the thousands.
Thinking about future risks or disasters is not pleasant or easy, but it’s essential for a sound financial future that covers all bases for you and your family.
In short: a great life insurance plan is something you should have had yesterday. Do not delay getting it. Don’t become the ‘cautionary tale’ that spurs others to act to protect themselves.
How much coverage do you need? What’s appropriate, given your age, income, assets, and expenses? What will your family need for financial peace if you’re suddenly gone? Let us walk you through the steps you can take today to answer these questions, reduce your future risks, and give you and your loved ones peace of mind.
The Blue Oyster Cult lyrics ring true: Don’t fear the reaper. We need more cowbell. And in the spirit of both, we need more life insurance, too.