Real Life Insurance is a Real Need, Especially When You Need It

Life insurance is critical to family planning Credits:

(Shameless Plug #34) 

I have worked in the insurance industry for years and have heard the many tragic and horrible stories, related to lack of preparation, concerning life insurance. People fool themselves into thinking that tragedy will not happen. This, along with a host of factors leads them to believe that life insurance is not beneficial. Unfortunately, that is wrong thinking. 

Procrastination, delay and wait are all factors that work in the insurance company’s favor. The older you become, the more expensive insurance is. Get Life insurance early for your kids. More than just a 10K Gerber plan. The younger you are, there the better your rates are and the more options you have access to. 

Sign Up for E-News

There are affordable options that people can shop around for. Some people believe that a 50-250k policy from work will address their family needs. If that is the case, then make sure your policy can sustain your family’s needs for a defined period of time. I usually suggest to clients, to look at 3 to 8-year time period, pending each individual circumstance. Simply combine what you have in life insurance and savings and divide that number by the amount of years you want that income (because it will replace yours) to continue. You can even divide your annual number by 12 (monthly) to give you a more defined picture. Once that is done, I then have them divide that annual number by the amount of people in their family. This method provides a simple but granular view for what you should consider when shopping for insurance. 

You may find you are over insured or you may find that you are greatly underinsured (as many Americans are) A 2013 article from Anderson, Dahl and Gilbert, in LifeHealthPro, discussed what the article called a coverage gap in America. In 2013, 44% of Americans, had no form of life insurance coverage. I am sure that in 2016 that number has not risen much, and it may have declined a little. No matter what your income, lifestyle or financial circumstance, life insurance is an important aspect of any financial, will, or family plan. Please consult an attorney and a financial planner to help you. 

I woke up one morning and never thought it was going to be the last day that I saw my wife well. She passed away a month and a half after that. Thank goodness we settled on a life insurance policy years prior. I thought doing it would be a benefit to her. I did not expect or want it to be the other way around, but life can be funny like that. Needless to say, between what she had from work and what we bought (it was a real struggle but it is financially worth it), it is also cheaper than cable. 

Today, people need to look at the variety of options available Term, Whole or Guaranteed life maybe some ways to look at providing insurance options for your family. Or do what some of my clients do, and start cutting family members out of your will. (I do not suggest that or condone it at all). If you need help or would like to discuss option, contact me John Clark (973) 518-0676

John L. Clark III, has been a licensed life and health insurance agent for ten years.  Mr. Clark has worked with various insurances and companies. Ranging from voluntary benefits with the American Family Life Assurance Company or AFLAC to life insurance with Mutual of Omaha and Medicare insurance with United Healthcare, John provides a wealth of knowledge.  Bringing his varied experience to many businesses and individuals, John now speaks to Senior audiences throughout the Tri-State Area, in hopes to discuss options and provide answers to people asking questions about senior concerns.  

The opinions expressed herein are the writer's alone, and do not reflect the opinions of or anyone who works for is not responsible for the accuracy of any of the information supplied by the writer.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

East Orange/Orange

Adults Step Up and Speak Out to Protect Children from Sexual Abuse

April 18, 2018

EAST ORANGE, NJ — The East Orange YMCA is marking National Child Abuse Prevention Month with Five Days of Action, April 16-20. Leading up to Healthy Kids Day, a national initiative to improve the health and well-being of kids, Five Days of Action raises awareness on how adults can step up and speak out to prevent child sexual abuse.

“By encouraging adults to step up and speak out, ...

Essex County Announces Partnership with Nine Local Charitable Organizations

April 16, 2018

WEST ORANGE, NJ – Essex County will participating in nine special partnerships to increase awareness about and help raise funds for the American Cancer Society, American Heart Association, the Arc of Essex County, the New Jersey Children Alliance, Stop for Nikhil, The Valerie Fund, the Arthritis Foundation, the Saint Barnabas Medical Center's Neonatal Intensive Care Unit and ...

How to Get Potential Clients to Feel Confident About Your Ability

For people to contract with you, they need to have confidence in you. They need to know that you’re going to do what you say you’ll do. But, how can they know this before you work with them? There are plenty of signs that they’ll look at to determine if you’re trustworthy.

* Do What You Say You Will – Whether it’s in a group, one-on-one, or otherwise, ...

Likability is Key to Attracting Clients

Likability is a quality that you need to have to get people to know you and trust you. If you want the full trifecta of like, know, and trust, then it all starts with being someone that people like. You really can learn to be more likable and it's all to do with your demeanor. But, being likable starts from within. If you care about and find value in others, it’s going to show through ...

What to Do and Not Do During Networking Events

When you go to networking events with a goal of getting more high-quality clients, there are some things that you should and should not do. There are tried-and-true methods to use that successful business people have perfected. Follow them, and don’t try to reinvent the wheel if you want to be successful.


* Choose the Right Events – It’s fine to go to ...

April is National Stress Awareness Month

April 14, 2018

National Stress Awareness Month-April 2018

Stress is a topic that people often joke about.  However, it is not a matter to be taken lightly. Stress is unfortunately one of the most common mental health issues and stress factors increasingly affect the well-being of American’s and others world-wide. According a study by the American Psychological Association, despite stress levels ...