Being primarily a health risk life insurance agent I get to talk to a lot of people about diseases and problems they didn’t have even just a few years prior. Especially guys have this bombproof thing going on where they truly believe as long as they work hard and have regular bowel movements there’s no reason to rush into buying life insurance.
I am guessing the majority of guys would never buy life insurance without sufficient prodding by their bride. Even then, if there isn’t good follow through by the wife, guys are famous for starting a process and then dropping it because something important came up. Golf season starts. Hunting season is coming. Afraid they won’t get the best rate. Really. Nothing gets under a guy’s skin more than finding out they aren’t a perfect specimen.
So, when do guys feel the real need to look into family protection through life insurance. Usually after they have had some brush with mortality. They find out they have diabetes or have a scare with something that could have been cancer but it wasn’t. Or age 49. If there is one age that sticks out that more people buy life insurance than any other age, it is 49. Something about turning 50 makes people, especially men, feel vulnerable and, like never before, mortal.
Let’s assume for a minute that we’re the proactive type. When should a person buy life insurance? I think a good rule of thumb would be the earlier of either age 30, or as soon as you incur any kind of responsibility that would cause a financial hardship or loss if you died prematurely. Why age 30? Why would I recommend having life insurance if there isn’t any true need in place yet? Because it’s cheap! $33 a month can get a 30 year old in good health $500,000 of 30 year term. It may not be all you’ll need for the rest of your life, but it’s a far better start than most people have when they get married and suddenly have more than themselves to think about. ** Parents and grandparents! If you have a child or grandchild that falls into this category and they have not as yet “gotten it”, buy it for them. Make it their birthday and Christmas present until they are ready to take it over. If they never take it over, at least you will have done the right thing.
Again, I know we all think we are completely bombproof at age 30, but if you’re age 25 to 30 and don’t have a friend or someone you know in your age group that has been inflicted with some serious medical condition, you are positively in the minority. Whether it is type 1 diabetes or cancer, for them the days of $33 life insurance is over even if they fully recover or completely get their problem under control. Just like the question of why people would buy children’s life insurance, most parents cringe at the morbid thought of it all and completely set aside the fact that they are securing guaranteed future insurance at a good price. Buy it when you’re young and healthy and you will guarantee you have insurance when you aren’t and aren’t.
So, back to the foot dragging thing. The truth is there are less and less excuses every day for not having insurance you should have. It’s everywhere on the internet, including here. And no excuses at all for not understanding the need for life insurance since I have been beating this subject to death for 7 years. I guess your only real excuse would be if this is your first time reading “The World According To Me”.
Bottom line. Before you take another breath assess your life based on the parameters above and see if you aren’t behind the curve in doing your job. Parents,grandparents and wives, especially your sons, grandsons and husbands don’t get the responsibility thing very easily. Talk to them about it or take it over and get it done for them. Don’t let them not get around to it. If you have any questions or if I can help you with quotes to present to the problem guy in your life, please call or email me directly. Let’s talk.