LIFE INSURANCE IS FOR THE LIVING

Over the years, there have been many Life Insurance commercials airing on Lifetime, Discovery, CNN and other television channels. You probably have already seen these ads developed by the Life and Health Insurance Foundation for Education.

One ad in particular is shown from the perspective of a patient lying on a gurney. The medical staff is frantically working on him to save his life. Images flash before the patient about how his family will survive without him. As the doctor exits the emergency room to tell the family he did not make it, a voice says, "Life insurance is not for the people who die. It's for the people who live."

A very dramatic and very real way to describe the need for life insurance and why it is bought. So why do so many people fail to purchase an adequate amount of life insurance?

There are many reasons - both economic and psychological. Some people cannot afford adequate life insurance or, in all probability, they are paying too much premium on an insufficient death benefit amount. Others simply believe they do not need life insurance because they eat right and exercise and they won't die early. Or they have bought into the fallacy that they should not buy life insurance as it is not a good investment.

If you have $300 per year to spend on life insurance and you have a need for a larger amount of protection, is a $10,000 whole life or $100,000 term plan better? You would be surprised at how many people buy the $10,000 policy and then complain that they cannot afford to purchase the insurance they need. The answer is: buy the amount of life insurance your family needs at the price you can afford.

All of us should eat right, exercise, etc., but do you really believe that by doing so you have somehow become immortal? As you grow older, you appreciate each day God has given you, but there are no guarantees. Again, the answer is to buy the amount of life insurance your family needs at the price you can afford. PRCUA offers premium discounts on certain plans for people in very good health.

Only a totally incompetent financial advisor would tell you to not buy life insurance because it is not a good investment. Every financial planning training program teaches that before you invest one dollar into your investment plan, you must make certain that the individual, and his or her family, has sufficient insurance coverage. Too many people are led into confusion about the value of life insurance by unscrupulous advisors. You do not buy life insurance as an investment. You buy life insurance to protect against the risk of dying too soon. Once again, the answer is to buy the amount of life insurance your family needs at the price you can afford.

Remember that life insurance is not for the people who die, it is for the people who live. Contact your favorite PRCUA agent today to make sure your family has the right amount of life insurance they need at the price you can afford, or contact the PRCUA office. Do it today!