|
EVERYBODY NEEDS LIFE INSURANCE
Actually not everybody needs a policy.
And not everybody needs the same type of policy.
- Billy Bob has a wife who works just part time, two young kids, and a mortgage. He is a walking living breathing PAYCHECK. If he dies his family is not going to be able to pay the bills. Without his paycheck his wife can’t pay the mortgage, pay for preschool, diapers, food. That’s why he has a $500,000.00 30-year term policy. A temporary policy that he will probably only keep for 30 years. Because in 30 years his mortgage is paid off and his wife won’t lose the house…the kids have graduated from college and can get a job and take care of themselves…He’ll be retired and his wife won’t need his paycheck to survive. You should think of Term Insurance as TEMPORARY Insurance
- Billy Bob’s mother has a different need. Her house is paid off, kids are grown, retired. Nobody is relying on her paycheck. When she dies, she doesn’t want somebody else stuck paying for her funeral. She has a $20,000.00 whole life policy. She will keep it for the rest of her life and the rates will never go up. She needs a permanent policy because we are all going to die eventually.
|
