I like watching YouTube just for fun. Seeing the different videos of the ridiculous to the absurd gone viral is strangely entertaining. Recently I saw a compilation of videos of people glued to their smart phone and totally unaware of their dangerous surroundings. They were running into buildings, walking into traffic and falling into fountains.
Life can be like that. We are so focused on living but can be unaware of the hazards around us.
I know parents who work hard to provide a home for their family but don’t see (or don’t want to accept) the possibilities of what happens to that home if something happens to them. September is Life Insurance Awareness Month. And while many took this as an opportunity to take a closer look at their life insurance needs; many are still falling into fountains.
What was your reason for not investigating your insurance needs? According to a 2015 Nerdwallet blog, there are seven (bad) reasons people don’t buy life insurance.
No. 1, No. 2 and No. 3 – Cost, Misconceptions and Other Financial Priorities
Many people believe falsely that life insurance is unaffordable. Compound this fact with other financial priorities associated with life and people will often accept a small term policy at work (that may disappear at any time) as their total protection plan.
No. 4 – Other Demands on Attention
Many start thinking about life insurance when they have children. Unfortunately, children also bring us sleepless nights, second jobs and soccer games. Who has the time or energy to talk about life insurance?
No. 5 and No. 6 – Complexity and Lack of Trust
Needs analysis, riders, beneficiaries, ownership – it’s all very confusing! You could talk to an agent but many consumers don’t trust insurance companies.
No. 7 – Unpleasantness
People don’t want to think about their own death or the death of a loved one. It’s easier to put off what is unpleasant.
Of course, all of these are bad why reasons people don’t buy life insurance. In reality life insurance is affordable. Agents are required to act in the best interest of the client and can help you to discover your needs and explain coverage options that are right for you. They help to make the process clear and simple.
So don’t wait until Life Insurance Awareness Month rolls around next year. Act now! There’s a fountain ahead!