Why Won't You Buy Life Insurance?

• Don’t like to buy life insurance?
• Perhaps you simply do not “believe” in life insurance?
• Here are five reasons why some people will not buy life insurance

Life insurance is one of those common-sense products that comes with a number of advantages... and very few drawbacks. That's why millions of men and women take the opportunity to purchase coverage -- to protect their loved ones in the event of their own premature death.

Still, some diehards offer interesting reasons why they will NOT buy life insurance. Insurance professionals have listened to them all. Here are just some of the things we've heard over the years -- some serious, some tongue-in-cheek -- along with our own reactions:

"I don't believe in life insurance!" It's really not a matter of belief. Life insurance isn't a religion or political philosophy. It is a financial tool with a proven track record for protecting loved ones and helping assure their financial security. People who believe in providing for their families believe in life insurance.

"I want them to miss me when I'm gone!" Don't we all? But wouldn't it be nice if they remembered us fondly for having provided the funds to help pay off the mortgage on the house.

"Why should I make her next husband (his next wife) rich?" Good point. That's just one reason some insureds select a structured payout of proceeds and why attorneys recommend pre-nuptial agreements prior to second marriages. That's also why many people protect their spouse with life insurance. Life insurance helps create viable choices for loved ones.

"Let the kids work through college, just like I did!" There are days when, if we have children, we all feel that way. But we really don't mean it. We devote ourselves to helping our children get a good start in life. That means helping them to get a good education. If we die prematurely, our children's lifestyle and dreams could be threatened, along with their college dreams. Life insurance, however, can help provide the funds to make sure your children get a good education and a strong start in life.

"You have to die to win!" In the event of your death, you lose either way. However, wouldn't it be better to make sure that your spouse and children will be financially provided for? We don't buy life insurance for ourselves. Life insurance is for the living, for those who must continue after we are gone. Besides, if you are fortunate enough to live to a ripe old age, it makes little sense to complain that you didn't get to use your life insurance.

Also, with permanent life insurance, your policy can accumulate cash value that you can use for any purpose -- to meet emergencies, take advantage of business opportunities, to help pay college tuitions, or to help supplement your retirement income.* In short, life insurance helps you and your family win…even if you live.

In fact, life insurance is one of those win-win financial vehicles that enables you accomplish a great deal with very little. It is the ONLY product available that can deliver a guaranteed** sum of money to your loved ones at the very moment it is needed most.

Remember, we don't buy life insurance for ourselves...but for the ones we love. We buy it to provide peace of mind for ourselves and a degree of certainty for our spouse and children. Life insurance helps you meet the commitments and keep the promises you have made to your family.

* The cash value in a life insurance policy is accessed through policy loans, which accrue interest at the current rate, and cash withdrawals. Loans and withdrawals will decrease the death benefit and cash value.
** The guarantee is backed by the claims paying ability of the issuer.

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