A Letter to My Child about Life Insurance*

Congratulations! You landed your first job, and a good one at that. I'm really proud of you. Now, you're about to move out and on to the next phase of your life — you can come home and do laundry anytime you like. I just want to share with you a few things that will better inform and positively impact your financial decision-making because I care about your future so much.

Apply Your Financial Lessons

The sound and prudent financial lessons that were instilled in me by your Granddad have benefitted our family immensely. They have not only been critical to both my personal and professional growth, but, I believe, have made me a more responsible individual and provider for our family. Now, that may sound sort of hokey, it did to me when Granddad sat down to explain the financial fundamentals in life, but it is the truth.

And sure, there are going to be money missteps in your life. We all go through them — they're inevitable. But I'm glad you paid close attention when we had our conversations about understanding the value of money, budgeting, and saving. You've made smart choices concerning your finances and credit cards as a result of our talks, and they will certainly serve you well in good times and in bad.

You've already started setting money aside in your company's 401(k) and into your choice of investments. You're taking your future very seriously; and, as a result, plotting life's next steps will come into clearer focus. That immediate picture should include becoming a life insurance policyowner. Consider making it a part of your entire financial plan today.

Listen to Granddad — Buy Permanent Life Insurance and Take Ownership of Your Life

Which brings me to a conversation I had with Granddad soon after I was on my own — much like yourself now. He spoke often of purchasing permanent life insurance, and how a person who was just starting out could take advantage of what the product offered.

I had many misconceptions about life insurance — I thought it was only meant for older, richer people who were married with children. I clearly remember thinking that I didn't need it:

• "I only need life insurance if I am married or have children."
• "I cannot afford life insurance. How am I supposed to pay for a policy on my income?"
• "Life insurance is only used to provide money to my heirs when I die or to cover funeral expenses."
• "Life insurance is only meant for rich people with estates."

And there were more.

Granddad dispelled those notions by sharing some of the virtues of permanent life insurance:

"It's for anyone who values long-term financial security and needs the support in achieving it. Buying permanent life insurance enabled me to take control of that security early on in my life."

He went on to say:

And, from that point on — I think I was about 26 at the time — whether I needed the cash value within the policy I built up over time for the expected, like funding your education, or the unexpected, like the time I was laid off from my job, it helped me provide the financial safety and protection for you and the rest of our family."^**

That advice has certainly served me well, and I feel fortunate to be able to pass it on to you. Sacrificing your short-term wants for your long-term needs does require discipline, maturity, and forethought. You personify all of those qualities. That will empower you to make smart and fruitful choices, as you consider how permanent life insurance will have a positive and lasting effect on your life and, possibly someday, the lives of your wife and children.

Speak with an Agent

The next steps are simple. Consulting with an agent to help you devise a strategy based on your current and long-term financial needs is crucial to understanding how life insurance will play a beneficial part in your future. He or she will:

• Review your individual situation and personal objectives
• Analyze and review your needs
• Help you develop and implement a strategy to help you achieve your goals
• Monitor progress and provide ongoing service as your needs and situation change over time.

I hear someone at the door. Is your laundry already piling up?

^* This letter is fictional and intended for informational purposes only.

^** Loans against your policy accrue interest and decrease the death benefit and cash value by the amount of the outstanding loan and interest.

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