Written by: Nina Avery, CFP®
Less than a week before my dad died he asked me to make sure he had done everything he could to protect my mother and make sure she was taken care of financially. I don’t know if he knew he was going to die or if it is just instinct to protect those you love. It was literally the last conversation I had with my dad before he died.
My folks had the standard term policies when they were younger to protect each other, the house and us girls. But when those ran out, as term policies ALWAYS do, there was no more insurance. When the idea came back around that life insurance was the best way for my dad to protect and take care of my mom when he was gone – he was no longer insurable. Because my dad left my mom with no debt, a paid off house and the next best thing to life insurance – lifetime income from an annuity; my mom is protected.
My father on the other hand was not so lucky. His dad died when he was 11. In the blink of an eye he went from being a boy chasing lizards and riding bikes or whatever boys did in the 1940’s, to working to provide for his mom and three sisters. He had no childhood. Is this just a sad story or a cautionary tale?
Think it can’t happen to you or your family?
What would happen to your family if you were suddenly gone? Would your spouse have financial security during his/her remaining years? Would your kids be financially secure or would they end up like my dad and no longer get to be kids anymore?
You can protect the ones you love and create a secure retirement within the same permanent life insurance policy using simple strategies to create a tax free pool of cash for retirement or whatever else you want to use it for. Using blended term riders will increase the death benefit protection for your family when it is needed most and can be blended out when it is no longer needed. But the permanent part of the policy will remain in effect until you die. That’s why it’s called permanent insurance.
If you are still holding on to the idea that permanent insurance is too expensive, I urge you to educate yourself on all the benefits of owning a permanent life insurance policy with substantial cash value. When properly constructed by a Qualified Safe Money Advisor, you can protect the ones you love and create a secure retirement at the same time with the same dollars.
For more information and to learn how to protect those you love and create a secure retirement for yourself at the same time with the same dollars, email Nina@MontanaLifeGroup.com for your free consultation and evaluation.
Because we all want to protect those we love. Do it today.
This article is dedicated to my dad and all those dads who want to protect their families. Happy Father’s Day.
By Nina Avery
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