Seniors, can we talk?
As you’ve probably gathered by now, Ruth and I get together every month to talk. We talk about what’s been going on with Ruth and her friends, Ruth brings questions or concerns her friends have shared with her and we try to look at options or solutions that may help them. Yes, Ruth does bring some challenges. What do you do when you really need life insurance, have none, have no employee benefits to enroll in, pregnant with your first child, due in 6 weeks, have an existing medical condition, your husband isn’t working and he doesn’t have any life insurance either? Wow! that’s a lot to think about. Meet Lucy. Lucy is Ruth’s friend Jamie’s granddaughter. Lucy is 35 years old, a professional business person, great income and is finally pregnant through IVF (in vitro fertilization). Lucy and her husband are so excited about this baby boy they’re having in 6 weeks. But reality has settled in. Lucy has no -0- life insurance. Her husband has no -0- life insurance. Lucy is not only the primary source of their income but her husband is not working now and has no prospective job opportunities. Their baby is due in just 6 weeks. Grandmother Jamie is very concerned about Lucy and asked me to talk with her. To make matters worse Lucy has a medical condition that may prevent her from being accepted for life insurance now. Goodness! This is stressful. If something happens to Lucy, how will her new baby and husband live? She’s their only source of income. Unfortunately, Lucy is right. Her current medical condition does prevent her from getting any life insurance now. Hopefully this condition will improve after the baby is born and she can get life insurance then. But what about now? What about today? After contacting numerous insurance companies and every one telling me that they would not consider her now, I did find something she could get today – and so could her husband even though he’s not working. What is it? An Accidental Death policy. Lucy bought a $500,000 Accidental Death insurance policy for less than $36.00 a month. Her husband bought the same thing for less than $64.00 a month. They’re thrilled. They feel that at their ages the likelihood of their dying accidental (car accidents for example) may be greater than dying of natural causes. Is an Accidental Death policy as good as a life insurance policy? No, but it is more than -0-. Are you wondering why they waited until now to talk about life insurance? Good question. Like many, life insurance is not thought about until there is a life changing event – something happens that changes your life. It may be your first grandchild like with Jamie or someone dies suddenly or someone is diagnosed with Alzheimer’s. All of these may affect your daily activities and your money. What have you waited to talk about? Call me at 501-868-6650 and say “Caroline, can we talk?”
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AuthorCaroline Beauchamp specializes in personalized life and health insurance solutions. Archives
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