As part of the coverage couple’s FAQ series, we’ll be answering the question “Why is getting Life Insurance NOW better than getting it later, when I’m older and more likely to die or be sick”?
This question, although seemingly reasonable in theory, comes from a lack of understanding how life insurance functions. More than that, this question is fueled from poorly planned life insurance policies that don’t fit the needs of the policy owner (and therefore are seen as failures). When something doesn’t fit, you’re likely to return it, or worse yet, never use it and let it collect dust! A little known fact is each and every year around $11 BILLION dollars in life insurance payouts go unclaimed! That’s a story for another episode. Our point is, while this question is increasingly rare, it wouldn’t come up at all if consumers were more aware not only of life insurance, but GOOD life insurance — there IS a difference!
What we’re talking about doesn’t just include avoiding the fly-by-night pre-approved life insurance where everyone gets $50,000 from their credit union or auto-loan bank (you know, the policies where a company you’ve never heard of sends you a mailer you never asked for). What we’re really talking about is securing a life insurance policy that ALSO works like an investment, rather than a one-trick horse that deposits money upon death. We want to make certain that’s not misunderstood. Most investments are volatile at best, and explosive at worst. Long term or day-traded stocks, gold, mutual funds, 401k’s, real estate and so forth are all unstable and historically unpredictable. While profit can be made in each of those areas, you’d have to devote every waking hour of your life to maneuvering your money around the snake pits and pitfalls just to see a meager gain. Talk about getting next-to-nothing for your most valuable commodity: TIME.
Plus, let’s face the truth once and for all…the people getting “rich” in the stock market are in a club, and you’re not a member. The only way for white and blue collar America to instantly create a dependable living estate AND enjoy a guaranteed high-yield investment with ZERO-losses and all-gains, is through the vehicle of a unique and mostly unknown life insurance type from a specific managed fund. This dual-policy cures all the “what ifs” and “maybes”, and provides a tax-free death benefit instantly set aside in a lockbox, and an interest earning account that pays aggressive dividends. Beyond that, the original question remains: Why not wait until you’re knocking on Heaven’s door — well, hopefully — to secure a policy and avoid financial burdens on your family?
The truth is even IF you had a crystal ball, that wouldn’t remedy the underlying problem: The inescapable reality is when you don’t have a lot of life left to live, there’s not much life insurance companies will give (we’re poets and we didn’t know it). Not only do your odds of serious illness go up every time you blow out your birthday candles, but on a long enough timeline your chances of dying is, well…100%. Oddly enough, less than 30% of Americans were smart enough to secure life insurance with adequate funding the latest national survey discovered.
The perfect scenario would be to exist in a world where you had total clairvoyance. THEN, you could just take out a $100 MILLION dollar policy the day before you died! BUT, that wouldn’t work either, and here’s why: According to research, 92% of humanity meets their Maker as a result of NATURAL causes…which means they weren’t hit by a bus, attacked by a shark, or our biggest fear…decapitated by a rollercoaster. Dying of natural causes doesn’t just infer, but has been proven to leave behind a lengthy trail of enormous medical bills (along with second and third mortgages to pay for experimental treatment). So, guess where we end up? Right back where it all started: Securing life insurance and making wise investments as early as you’re able — during your family and career years — is the single smartest AND SELFLESS thing you can do for yourself, your family, and your budget.
If your policy is structured right (and even many that aren’t), you’ll never, EVER contribute as much into your life insurance policy, that you and your family will get out. The reason life insurance SEEMS like a no-brainer with all these stats, facts, data, and hindsight…is because IT IS!
In closing, the best time to purchase life insurance and start a reasonable investment strategy isn’t when you don’t have much life left to live, but when you’re JUST starting your life! I’m talking about when you’re a baby. We’re talked about this in detail in other episodes, articles and videos, but if you secure a policy for a child or grandchild it will accumulate over their lifetime by earning extreme interest and MASSIVE dividends. No matter if you’re a newborn or a not-so-new-born, do yourself a service, by letting us serve you.
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. HERE 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 univested. We hope to hear from you soon, because your life is worth the investment! -Aaron & Sarah, The Coverage Couple