Strategies in Content Creation
Please don’t take these thoughts and ideas as Life Insurance Gospel. This is my theory on a product I deem to be very important in protecting the well-being of a family. There are many reasons why Universal Life Insurance may not be right for you, but I do recommend you consider the product as part of your personal insurance program.
Do you consider yourself a silly person? No… then why do you make silly excuses for not purchasing a life insurance policy?
So, with Gen Y pushing back events such a marriage, kids, etc in exchange for career, education, traveling they are also pushing back the accumulation of financial assets that will provide protection to themselves and their future family when time comes.
I hate this question because it perpetuates the misunderstanding that there is some arbitrary coverage amount that will fulfill an individual’s needs.
Paul Sullivan of the New York Times in April of 2009 wrote an article in the Wealth Matters section titled “Never Mind your 401(k). How’s Your Insurance?” Mr. Sullivan starts his article with a very simple yet powerful sentence, “Insurance is the least sexy asset in most portfolios.” Why is this simple, straight-forward sentence so powerful? Because it is true and drives the sub-concious perception of insurance in almost every American’s mind.
Most individuals interested in purchased these worst case scenario policies wait until either something very bad has happened to either themselves, a family member or close friend. These individuals do not realize that the longer you wait (the older you are) to purchase Life and Disability insurance the higher your yearly premium is going to be.
