Life Insurance Awareness Month
Disasters and death are uncomfortable to talk about for most. It’s not a light, fun subject, and often creates uneasy feelings for those that are considering it while planning for life insurance, or any type of protection after disaster or death. SOGO recognizes this uncomfortable situation, but we assure you that our agents are very well trained to take the dark reality of death and turn it into a positive perspective for you and your family.
September is Life Insurance Awareness Month, and we’re here to help you gain some basic understanding of the benefits of putting a life insurance policy in place. According to a 2017 LIMRA study, “one in three families might not be able to meet their day-to-day expenses within a month of the primary breadwinner’s death.” This shocking statistic points to the necessity of having a policy in place, especially for local San Antonio community members that work in dangerous industries, including manufacturing, construction, and building. The last thing you’d want for your family is to worry about paying the bills, on top of the emotional weight of your death.
Monthly expenses are not the only thing you’d leave behind. Many purchase life insurance policies as a back-up plan to pay off a mortgage, credit card, and student loan debts, and estate taxes. Some even take it one step further by implementing a plan that is meant for an inheritance to their family, or as a fund for future educational needs (think college) of their family members. While some are overprepared, others are relying on unstable sources of income after death, including crowdfunding for funeral expenses and family bills. While we’re sure your friends and family would pull through for your loved ones, it’s also leaving an immense amount of pressure on those you love.
If you’re already insured, great! Call us anyway, because one in five life insurance policy-holders are unsure if they have the correct amount of coverage for their particular situation. We are experts at deciphering your current policy, and if/where it’s lacking. Don’t assume you’re good to go just because you have a current policy in place, either through a private company or through your employer. If you’re not covered at all because you’re worried about cost, it’s also worth checking in with us. The Insurance Information Institute estimates that 44% of millennials are overestimating the cost of life insurance at five times the actual amount. Since end-of-life is not necessarily on the mind of a 30-something, it comes off as an unnecessary and frivolous cost that can be pushed off, but there’s no such thing as planning for a life insurance policy too early.
SOGO is here to talk openly with you about all types of insurance, even when it’s about hard-to-discuss subjects like personal life insurance. Our agents value our clients like family, so take a minute to call us and keep us in the loop on your needs. We are anxious to help you create the perfect plan for your future and family. Contact us today.
In case you missed it: “5 Things to Do in SA This September” has got a sweet lineup of fall events you’ll be anxious to attend!