Annual Evaluation
Over the past few months I have spent a lot of time focusing on auto and home insurance. I think March is a good time to shift gears and talk about something completely different. The beginning of spring always makes me think about life insurance. I think it has something to do with the financial evaluation that takes place because of filing a tax return. Doing taxes paints a good picture of where one is financially and also takes into account any significant changes over the past year. During this time I often take a step back and re-evaluate the amount of coverage I have and encourage everyone to do the same.
What About Life Insurance
You have insurance to protect your home, your car, your health but what about your life? Life insurance is the one that is the most often over looked. Over the next few weeks I am going to dispel some myths associated with life insurance and also discuss some of the different life products that are being offered in the marketplace.
Why is Life Insurance Overlooked
Life insurance is not the easiest conversation to have unlike auto or home insurance. You are required by law to have auto insurance and you also know the likelihood of needing to use it is high. Just look on the side of the highway the next time you are traveling. It is littered with broken headlights, bumpers, fenders, and other car parts .The same can be said for homeowner insurance. It would not be hard to find someone who had a claim because their pipes froze, ice dams ripped gutters off of the house, or had some type of fire. These incidents make insurance tangible and visible. This visual reality heightens the need to make sure one is adequately covered. This does not happen with life insurance because premature death does not occur as often as an auto or home incident.
Dealing with Mortality
One of the biggest hurdles when thinking about getting life insurance is dealing with mortality. Many people have a problem trying to conceptualize the world without them being in it. There is often a feeling of denial that something bad could happen to them. I’m too young to die, I have good genetics, I’m healthy, or I’m too busy to die are some of the more common objections I have heard when talking with clients about getting a life policy.
Everyone Needs It
The reality is we all need and should have it and if you do have a policy you probably need more. Singles, Young Families, Established Families, Empty Nesters/Retirees, and Business Owners all have need for it. Most of us will never have to use it but in the event we do the purpose is to relieve the burden on our loved ones. The most common purposes are to pay off a mortgage, pay college tuition, cover funeral expenses, pay estate taxes, or buy out the ownership stake of a business partner.
Let Us Start the Conversation
Most life policies offered through a job are not portable. Many people who work part time or casual do not get offered anything. Contact the John J Suppa Insurance Agency at 412-238-8200 and we will make sure all of your bases are covered and ensure that you are Safe with Suppa.