Life insurance is like a lot of things — neglect it, and it may fail you when you need it most.
Sometimes, the worst choice we can make is to not make a choice. Someone reminds us that we ought to do something. We agree: “Why yes, I ought to do that.”
But we don’t get around to it.
And sometimes, like in the story below, our non-choice makes a choice for us.
Patty, Paul and life insurance in a drawer.
Patty and Paul were new “empty-nesters.”
Their son had a new job and had finally quit moving back home. Their daughter had finally graduated from college. The kids were truly on their own and doing well for themselves.
Paul suggested downsizing their home. Maybe buy a motorhome too. Patty thought that sounded great.
Patty also suggested they review their life insurance to make sure it fit their new empty-nester situation.
She thought that now might be a good time to pull out the life insurance policies from the drawer and talk to an agent about their new dreams and goals.
Paul said, “Why yes, we ought to do that.”
Time passed. Patty and Paul retired.
Paul’s ideas worked out. They moved to a smaller home. It was a beautiful new townhome. And of course, they bought a motorhome and toured the country.
But they never quite got around to Patty’s idea of reviewing their life insurance.
More time passed. New joys arrived.
Grand-kids. Wow! Patty and Paul fell in love with the little rascals.
Everything looked new through the eyes of these precious grandchildren. Oh, what they wouldn’t give to make sure these little ones had every opportunity in life.
And then Patty and Paul remembered their life insurance. They could increase the face amount and leave a legacy for these precious little grandchildren when the time came.
Things changed, and dreams died in a drawer.
But Paul and Patty’s health had changed. Paul now had a heart condition, and Patty had recently survived a cancer scare.
They dug the life insurance policies out from the drawer and realized that the policies were due to expire soon.
They were near the end of their 30-year term. The policies were renewable at affordable rates only if they were in good health. But now, they weren’t insurable.
If only Paul and Patty had not neglected their polices. Now, their dreams had died in a drawer.
Dreams matter. Life changes.
As I finish this four-part series on common life insurance mistakes, I want to personally appeal to you.
I’ve been an agent for over 20 years. I’ve seen dreams that are met by life insurance, and I’ve also seen dreams not fulfilled because of poor life insurance planning.
Please... pull out those old policies hiding in your drawer. Blow off the dust and call an experienced agent to talk about your goals and dreams.
Let an experienced life insurance professional help. Do it today.