Life Insurance Learning Center

With the New Year upon us, inevitably our minds turn to resolutions to accomplish certain goals. However, when we review what we want to accomplish in 2012 we may recognize that many of our goals were also on our 2011 New Year’s resolutions’ list. Nevertheless, a New Year gives us a new opportunity and a renewed commitment to finally get done what we want or need to do.

One of those tasks on your New Year’s resolutions’ list may be to finally follow through with getting life insurance. As the economy continues to suffer ill effects, so too may our family finances and sense of financial security. Why not take advantage of a New Year to create a greater sense of financial security for your family? Perhaps you have procrastinated purchasing life insurance in the past because the process is too complicated or the cost is too expensive. What you probably do not know is that life insurance prices are lower than ever before and the life insurance application process is easier than ever before.

At CEG Life Insurance Services we offer an online application process for numerous top life insurance companies to provide you low cost life insurance in a quick an easy way.

So, while you work on accomplishing the goals on your New Year’s resolutions’ list, check one off right away: complete an application for life insurance today—it may be the most important resolution you fulfill all year.

Life insurance? While a life insurance policy may not be the most exciting gift to open on Christmas morning, if something were to happen to you, it may end up being the most important Christmas gift you ever gave—and one which your spouse, children, or other loved ones will remember and be grateful for throughout the rest of their lives. In fact, think about what would happen if you were not around next Christmas; who would pay for gifts for your family then? Even more important, who would pay for their day-to-day expenses?

While a life insurance policy may look like nothing more than a small stack of papers bound together, with a bunch of numbers and legal gibberish, its true value is measured in peace of mind for yourself, while you are living, and in mortgage payments, food, cars, education, and yes, even Christmas presents, when you are gone.

So, if you are still wondering about what to get your family for Christmas, think life insurance.

Life insurance is not the easiest product to market. It is not like a popular drink, fast food restaurant, or new technology gadget. It is not an item that people look forward to purchasing or using. It is not a legal requirement (like auto insurance) or a commonly used benefit (like health insurance). In fact, once purchased, for the most part it goes unused and is nothing more than a collection of papers filed away in a drawer somewhere. Quite honestly, it is a product that is often begrudgingly purchased, and then only as a precaution against (what most people think is) an unlikely scenario (i.e., dying unexpectedly). Hence, how do you market a product that nobody is excited to buy and few people want to think about?

However, when life insurance as a product is viewed in the proper perspective, and is promoted for what it does do, and who it does benefit, a very good marketing campaign can be put together.

This is exactly what MassMutual has done with their new “Kids Take Charge” campaign; a very clever and amusing series of commercials that can help people understand what, and who, life insurance is really for—and does so in an upbeat and humorous way.

As a side note, while we do sell MassMutual’s life insurance policies, they are only one of many carriers that we work with; hence, this is not an endorsement of their company or policies over that of others. However, we do endorse and enjoy their commercials. Hope you enjoy them as well!

Of all the costumed visitors you may receive at your door this Halloween, perhaps none is more frightening than the thought of Death showing up. While each must answer that door when he comes, and it may be scary to do so, it can be even scarier for those you leave behind.

However, while it may not be easy to simply turn off the fear of Death’s arrival, it can be easy to turn off the fear of leaving loved ones behind untaken care of financially. The solution is simple: life insurance. No other financial instrument or investment can promise to return so much for such a small cost. Hence, when Death does show up at your door, whenever that is, at least you will be able to leave with peace of mind knowing that your family does not need to fear a loss of income, home, or financial security, due to your leaving with him.

So, this Halloween, make Death a little less scary, by financially protecting your family with life insurance.

Of course by cheap we mean low cost, not low quality. If you think about it, the cost to benefit ratio of life insurance can be enormously favorable, as the amount of money a buyer actually pays is very small compared to the financial benefit that can be collected—which occurs at a time when that benefit is needed the most.

Unfortunately, many people are hesitant to buy life insurance having the misguided thought that it is an expensive and unnecessary product which they will never use. Yet, in thinking this they are probably uninformed on two important matters: First, they likely don’t know how inexpensive a life insurance policy can be, and second, a life insurance policy really isn’t to “used” by them (although it does provide peace of mind)—rather it is to be “used” by the people they love.

To illustrate how little a life insurance policy can cost, here are 3 price quotes for a $1,000,000 (10-year term) individual policy—for a 30 year old, a 40 year old, and a 50 year old (using a “Preferred Plus” health rating):

30 year old = $24.94/monthly
40 year old = $31.06/monthly
50 year old = $80.06/monthly

However, even if you do not have great health, or are over 50 years old, life insurance policies are still very inexpensive—especially when you consider how much money your loved ones would receive, in comparison to the amount of money you actually pay. A couple dollars (or less) a day is a small price to pay for financial security and peace of mind!

Are you one of the 95 million U.S. adults who don’t own life insurance? Are you among the 50% of U.S. adults who recognize you do not have adequate life insurance coverage?

If you do not have life insurance, or do not have enough life insurance, is there a specific reason why? Do you have an alternative financial protection plan in the event of your death? Is it just something you haven’t gotten around to yet? Do you not want to meet with a “salesman”? Do you not like to think about death?

We hope the above graphic makes you aware of your own life insurance needs. Furthermore, perhaps by reflecting on some of the above questions you can overcome whatever obstacles that may be preventing you from getting an adequate amount of life insurance.

The irony is that while more adults are uninsured than ever before, life insurance has never been easier or less expensive to purchase. In less than 30 seconds you can get price quotes from numerous top life insurance companies, and in less than 10 minutes you can complete a life insurance application. Additionally, you can go through the process with or without an agent.

What is holding you back? Start the process right now to get the life insurance protection your loved ones need.

As the month of September rolls around each year, people start preparing for a number of “events”, such as the beginning of a new school year, the kickoff of the football season, and the upcoming holidays. However, the past few Septembers the insurance industry has been working hard to make people aware of something even more important that they should be prepared for: the financial security of their family or loved ones in the event of their death. It is with this cause in mind that September has been officially designated “Life Insurance Awareness Month.”

While death is certainly not something as fun to prepare for as school, football, or the holidays, your family’s financial security after you pass away is a major factor in allowing them to continue to enjoy those other “events”.

Unfortunately, though, even as “awareness” of the importance of life insurance increases, the actual percentage of people owning life insurance, or enough life insurance, has been decreasing. It has been reported that 7 out of 10 American households with children under 18 would not be able to meet expenses if the primary wage-earner died. That is a lot of children who could potentially go without sufficient financial support if one of their parents were to die. Are you among those 7 households?

As a member of the life insurance industry we are trying to do our part in raising “awareness” of the importance of life insurance this month (and every month). For this year’s campaign, we have created a unique electronic flyer that points out the above mentioned statistic, along with numerous other statistics on who has life insurance, how much they own (on average), who doesn’t have any life insurance, and who needs more life insurance.

We also offer our website’s services, which include life insurance price quotes in less than 30 seconds, an online application process that can be completed in about 10 minutes, life insurance policy reviews for those who already have a policy, company report cards that show the financial strength and stability of the numerous life insurance carriers, and a needs analysis calculator to help you know how much life insurance is the right amount for your family. And, all of these tools are self-service, allowing you to research and buy life insurance on your time, and at your convenience. Of course, our agents are also ready and willing to provide additional assistance upon request.

So, while you are sending kids off to school, watching football, or buying costumes or presents for the upcoming holidays, make sure you become “aware” of the importance of life insurance, and take a couple minutes to “insure” that your family will be able to continue to afford to enjoy these “events” next September—even if you are not around.

Traditionally, life insurance has been marketed to men as the head of the household. As men have historically been, by and large, the breadwinners of families, life insurance has been, and predominantly still is, purchased by them as a way to financially protect their wives and children at the time of their death.

However, social dynamics have changed. As a result of death, divorce, declining marriage rates, single parenthood, and alternative lifestyles, it now seems just as likely that a woman is the head of any given household. Furthermore, the workforce is filled with women, married and unmarried, who are breadwinners for their families. And, even the millions of stay-at-home moms, whose value to their home, family, and community is no less than those women who work outside the home, are finally being recognized for the economic value they provide.

Unfortunately, the life insurance industry hasn’t seemed to have caught up with the changing times. While the focus still seems to be almost exclusively on persuading and educating men to purchase life insurance, many women, whose life insurance needs are equal to or exceed those of their male counterparts, are being underserved and undereducated in this aspect of financial planning. This is particularly true for single mothers.

Here at CEG Life, we want all women to have easier access to education about life insurance, and a simple way to purchase life insurance. Accordingly, we will be providing more information about women’s insurance needs. In the meantime, we invite you, whether male or female, to encourage the women in your life to look at how life insurance can financially protect the ones they love.

The central purpose of financial planning is to either obtain or maintain financial security. And, financial security is really about being able to answer two questions: “How am I going to pay my current bills” and “How am I going to pay my future bills?” Every other part of financial planning simply builds upon this principle. However, one critical factor often missing in financial planning is how to answer these two questions when a husband or wife dies.

Fortunately, you can plan to provide financial security (the ability to pay current and future bills) for your loved ones after your death. The simplest and most cost-effective way to do so is life insurance. In fact, a life insurance policy may be the best financial decision you will ever make. Think about it: a life insurance policy will likely pay multiple times more in benefits than you will ever pay in premium—and it will do so at a time when that money is most needed. So, regardless of whether you are doing your own financial planning, or working with a professional in creating a financial plan, don’t forget to plan for financial security against the uncertainty of when death will occur.

Remember, without planning for the uncertainty of when you will die, your financial plan is incomplete—and there is no better and more cost-effective way to provide financial security for your family, after your death, than life insurance.

Unfortunately, many people do not understand what life insurance really is, and what life insurance really can do. As a result, an overwhelming number of people either have no life insurance at all, or not enough to truly protect their families’ financial needs. Hence, while $200,000 sounds like a lot of money, if your family depends on you for $60,000 of income a year, that amount will only last about 3 years (and likely less when you factor in possible medical expenses, funeral costs, and other debt).

You see, for most people, life insurance is simply about income protection. In other words, if you have anyone—spouse, children, parent, siblings, employees, etc.—that is in anyway dependent on your income or finances, you likely have a need for life insurance. Life insurance allows you to literally purchase—for pennies on the dollar—access to very large sums of money for those who depend on you. In this way, if and when you die, these individuals will continue to be able to maintain their current standard of living, and possibly even go on to accomplish life goals, such as a college education, buying a home, or starting a business, that they would probably be unable to afford otherwise.

So, for example, while you may initially think that $1,000,000 is way more life insurance than you need, thinking of that amount of life insurance as an annual income of $50,000 for 20 years might change your perspective. Ultimately, when you are thinking about life insurance, you may better understand its purpose, and how much your family really needs, if you look at it as income protection.