Life Insurance is a Statement of Love

Life Insurance is a Statement of Love

Feb 13, 2017

iStock_76053781_XLARGE.jpgThere are two things that remind me the most about why you need life insurance. Both happened to my family.

When my oldest boy was seventeen he was late coming home from a football game that I had overridden my wife’s decision not to let him attend. I was waiting up with the intention of grounding him, when the phone rang and the voice on the other end said he had been involved in an auto accident and they had to life flight him to the hospital. Long story short, he had received a head injury, spent over two years in various hospitals with medical bills exceeding $650,000.

A couple of months earlier I had taken a life policy out on him with disability waiver of premium, and to this day we have never had to pay a premium on this insurance plan. When you buy life insurance on children or grandchildren, make sure you do two things, put permanent insurance on them, and if possible, a disability waiver of premium. This waives the policyholder’s obligation to pay any further premium should there be a serious illness or disability. It allows people to benefit from a policy even when they cannot pay for it because of their health.

The other is my son-in-law. I was in a sales meeting only a few minutes after talking to him when his business partner called and said he had collapsed. He later died. The first thing my daughter asked was, “what are we going to do?” I said, “This is where love steps in and part of it is a $210,000 life insurance plan.”

Life insurance is not for you, it is for the family that you love. I have not met a family who did not need it for one reason or another. It is a statement of love to those you love.

If you really love your family and have not made sure their lives will be protected when you die, call me at 918-232-3599 or e-mail at ellondagin@gmail.com. I will help you design a statement of love for your family.



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