While life insurance isn't something that we always want to think about, there are a few situations where the thought might cross your mind.
- You just got married. - Before, you were only dependent on yourself. Now that you are married, you have someone else to think about. How would your spouse be affected if your income was no longer there?
- You just had a baby. - A new addition to the family means added expenses and someone else depending on your income. How would your child be affected if one or both parents' income disappeared?
- You just bought a house. - A mortgage payment can be one of the highest monthly bills a household incurs. Would your spouse or children be able to continue making payments if something happened to you and they no longer can depend on your income to cover it?
- You just lost a loved one. - During the trying time of losing a loved one, you probably have a million things running through your mind. One of those thoughts might be how would others be affected financially if I weren't around anymore?
- You just had a significant birthday. - The older you get, the more likely you are to experience health and medical issues. This could make you think about the future and how your family will be affected financially when you're no longer around.
While it may be called life insurance, you're not actually insuring your life. You're insuring what your loved ones depend on. Life insurance is for them, not you. Instead, think of the insurance as "income protection" or "family coverage." It's important to think about your families financial situations. How much money is needed for your family to get by? Without your income, is there enough money to cover the day-to-day expenses? If something happened to you and your family could no longer depend on your salary, could the bills be paid? Could your family continue living in the same house or driving the same car? It's important to put these numbers into perspective; then you'll truly be able to understand the value of life insurance.
For all your Lake of the Ozarks life insurance questions, contact Insure the Lake at 573-348-2794. Our goal is to meet with clients about their specific insurance needs, whether it be life insurance or another type of coverage, and how to best protect them. As an independent agency, we can shop around for the best coverage for your situation. Get your free quote today!
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About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.
Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral
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