As part of thecoveragecouple.com’s FAQ series, we’ll be answering one of the most prevalent questions we often hear, and one you’ve probably asked yourself:
Why do I Need Life Insurance?
The simple answer is you don’t, your surviving family does!
The reason why that answer above is no longer a complete answer is that in recent years as a result of competition and the changing reality of sick-care in America, an enhanced solution has been invented to plug all the holes aks of traditional (read: outmoded) life insurance.
We’re referring to the amazing creation of “Living Benefits.”
Living Benefits have transformed the industry and provided the long-needed coverage access and peace of mind families desperately need – when times get desperate. You might hear us at The Coverage Couple refer to Living Benefits as Protection No Matter What. That means, exactly as the name implies, you no longer have to die to unlock (and use) YOUR money. What a concept, who woulda thunk it! The immeasurable advantage Living Benefits provides for families meant we quickly adopted these policies for the clients and families we serve, as the cure-all to the disease that has plagued life insurance, and left many families spiraling.2
For far too long people would totally avoid securing (or even considering) life insurance because it was a protective product they’d never personally reap the rewards from. Purchasing an item that only benefits the people who love you is the truest way to express your love for them, the fact YOU can now enjoy the financial protection WHILE you’re alive solves everything. It’s like having your cake and eating it too. Isn’t that a clever saying? We just came up with it.
We’re constantly shocked by the majority (nearly 100%) of clients who tell us they’ve never heard of Living Benefits. Once they’re informed, the result is always the same…they want to know how they can qualify for them!
A large-scale study conducted by an independent nonprofit institute revealed the LEADING cause people don’t secure any type of term or permanent life insurance, is because (a) they don’t understand it, and (b) they imagine it’s unaffordable. That’s why we’ve created (and continue to add to) our Learning Resource Materials here on thecoveragecouple.com. Please don’t allow a lack of knowledge to keep you – and your family – from something as vital as at least considering how life insurance can be a shield and parachute for your worst days.
The simplest way to explain why every person needs life insurance (with Living Benefits) is the fact no one wants to pass on the burden of debt when they pass away.
Debt — large or small — being shoveled onto the grieving and beloved survivors during their time of mourning is a crushing blow. Now, thanks to Living Benefits, you can secure your future AND your family’s by planning ahead (not to mention the tax-free money you’ll receive to seek treatments of your choice). No one likes to think about it, which is why it makes sense to settle the matter once-and-for-all, so you’ll know when the day comes you’re not there to provide for your family… your policy and legacy will be.
Why else does someone, or more accurately those they leave behind, need the protection provided by life insurance?
Because the weight of financial obligation a family inherits when a loved one dies goes far beyond the raw calculations of existing loans, bills, credit cards, mortgages, car payments, child care, college funds, etc. (and the staggering increasing cost of the calling hours, funeral, burial, and cemetery fees, headstone costs) and extends into the future through the permanent loss-of-income void. This spills over into other aspects we rarely consider, like retirement funds that will never be fully vested as one example.
It’s always been interesting that death is the ONLY thing certain in this life (more than home damage, a car accident, trip to the ER)…yet those other 3 are in some way mandated by law!? The one protective product every human will need likely before — and absolutely after — death, is the one protective product that’s optional (and often ignored). This fact is unsettling, given that premature death has been PROVEN to leave behind the largest instant burden of debt when compared to the other 3 insurance types, often resulting in bankruptcy and total family collapse.
For example, Your child isn’t going to miss out on college tuition or wedding expense funds because mom or dad broke an ankle and received emergency surgery (even if mom or dad also had a fender bender on their way to the ER, and a tree fell on their garage while they were recovering). In this example, mom and dad are still alive, able to eventually return to work and continue contributing to the financial health and stability of the family. That would NOT be the case if they never made it home from an ambulance ride…
Based on the hindsight of personal experience at The Coverage Couple and the insight of recently published studies revealing horrifying long-term damage caused by unexpected and unprepared death (those are 2 separate concerns), life insurance with Living Benefits is the only strategically sound solution to avoid overwhelming catastrophe.
In conclusion, more than ‘needing’ life insurance, it’s also important that you don’t view it as a “bill,” but rather as the investment it is. In fact, as far as investments go, life insurance is the only sure-thing you’ll need…unlike gold, 401k’s, bitcoin, stocks or roulette wheels and dice… life insurance stands alone through the test of time as the sole ironclad resolution when you and your family need it.
At The Coverage Couple we commit to conducting deep investigative research for you and would like for you to reserve time with us, without any cost or obligation. We’ll carefully listen, and then follow up with a proven, practical, custom proposal for your review.
THIS is our official invitation to take part in The Coverage Couple Challenge, where EVERYONE WINS. Visit the Scheduling Page at thecoveragecouple.com to see how much we can save you on your existing coverage, or provide a financial risk assessment and needs analysis for your review if you’re unprotected and uninvested. We hope to hear from you soon… because your life is worth the investment!
-Aaron & Sarah, The Coverage Couple