Each year when “life happens,” we’re reminded of the importance of life insurance.
You may recall the story of former NFL quarterback and now radio and TV sports broadcaster Boomer Esiason and the effects of having no life insurance.
Boomer was 7 when his mother died of cancer. She had no life insurance. His father was left to raise him and his two sisters alone.
Boomer related, “We lived paycheck to paycheck, but my dad did an incredible job taking care of our family. He taught me the true meaning of what it means to be a responsible dad.”
It was his father’s sacrifice that motivated Boomer to protect his family with life insurance. Boomer explained to an interviewer, “Life insurance is about protecting the future and the people you love, which is especially the case when you are caring for someone with special needs.”
Boomer’s oldest son, Gunnar, was diagnosed with cystic fibrosis at age 2.
DO YOU HAVE WHAT YOU NEED?
Life insurance can do some pretty amazing things for loved ones. It can buy time to grieve when clients utilize Final Expense Life Insurance, which takes care of funeral, burial and other end-of-life expenses. Life insurance also reduces stress on surviving family members and may provide financial security.
If you own an old policy, it may be time to review it for expiration dates, named beneficiaries and death benefits. Any policy written before 2006 needs reviewed. Those in the retirement planning business see policies every day that are underfunded, which means the policy is not going to be considered valid.
Do you remember the beneficiaries in all of your policies? With an out- dated policy, a beneficiary you want now might not be who is listed. That can cause strain for family members left behind.
After you review your life insurance policies, encourage your children and loved ones to get life insurance....