Life insurance is not for you. It’s for the ones you love. Typical American: Home, cars, children, maybe spouses, education. These things are all going to feel the pangs of your absence in many ways. But, whether we want to talk about it or not, the financial picture always changes when you pull someone’s contribution out of the mix. And the age-old story always is, the kids usually feel the pangs of our actions, or the lack thereof.

So, be responsible. Even if you are single and even if you have no children, this would clean up any debt that you may have. Life insurance has many purposes. Life insurance can be used on an individual basis to care for your family. It can be used for estate planning (most wealthy people are heavily invested in life insurance which continues their legacy). It can be used by business owners to protect not only their individual family and the business for the sake of the employees, but particularly in a buy-sell arrangement.

I own a business by myself and I have employees. I die and what happens to the employees and all their families when the business fails. In this scenario, life insurance would allow that business to remain viable until future determination has been made. If I am a partner in a business venture, each of us should have substantial life insurance to fill our shoes for the sake of the partnership and the business in the event of our death. Succession planning always includes life insurance. There are many ways to use these tools and it’s essential, as a part of our insurance package, to have all facets covered proportionately to our needs and our ability to pay.

I am providing a couple videos from Life Happens which is a non-profit organization used by many independent agents as a source of information to share. Please take time to look at this and give me a call for a free assessment of all your needs. I am also providing you a short video on how to determine how much is enough.