Life Insurance & Financial Planning


Andy: IT IS PROBABLY SOMETHING YOU’RE NOT TERRIBLY EAGER THE TALK ABOUT. BUT IT’S A TOPIC THAT CAN HAVE INCREDIBLE CONSEQUENCES ON YOU FAMILY. WE’RE TALKING ABOUT LIFE INSURANCE. LIFE INSURANCE AWARENESS MONTH JUSTIANED UP LAST WEEK. WE WANT TO USE THIS TIME TO REMIND YOU OF THE NEED TO INCLUDE LIFE INSURANCE IN YOUR PERSONAL FINANCIAL PLANNING. HERE’S WHAT WE’VE DONE. WE’VE ASKED OUR GOOD FRIEND DON TIPPS TO TALK ABOUT HOW DO YOU DETERMINE YOUR COVERAGE, BUT FIRST OFF, YOU’VE GOT TO TALK — THIS IS NOT SOMETHING THAT YOU NEED — YOU NEED THE TALK ABOUT THIS. ANDY, NOT MANY PEOPLE WANT TO TALK ABOUT THIS. WE’RE FORCED TO BUY INSURANCE FOR OUR HOMES AND OUR CARS. THE ASSETS AND THAT KIND OF THING. NOBODY EVEN THINKS TWICE ABOUT THAT. BUT THE BIGGEST AND MOST IMPORTANT THING IS THAT WE INSURE OURSELVES, RIGHT? BECAUSE IF SOMETHING HAPPENED TO A MAJOR WAGE EARNER IN THE FAMILY, YOU HAVE TO ASK A QUESTION: IS THE REST OF MY FAMILY GOING TO BE OKAY? MOST OF THE TIME THE ANSWER IS NO. SO IT IS A CONVERSATION YOU NEED TO HAVE. IT’S NOT ONE YOU NEED TO HAVE ALL THE TIME, BUT IT IS ONE YOU NEED TO MAKE AN APPOINTMENT FOR, SIT DOWN, AND LOOK OVER THE FINANCIAL SITUATION. Andy: AND IF YOU’RE ONE OF THE ONE, YOU FEEL LIKE, THERE THERE’S NO WAY WE DON’T HAVE ENOUGH, I FEEL LIKE ONE-THIRD OF THE HOUSEHOLDS WOULD HAVE AN ADVERSE FINANCIAL IMPACT IF SOMEONE IN THE FAMILY PASSED AWAY. THAT’S RIGHT. WITH LIFE INSURANCE, IT CREATES AN IMMEDIATE ESTATE. SO YOU’VE GOT THE WAGES OR THE PERSON, THAT STOPS. I MEAN, IT JUST STOPS. SO YOU HAVE TO HAVE SOME WAY FOR THE REST OF YOUR FAMILY TO PAY BILLS, TO PAY FOR DEBT, PAY FOR FINAL EXPENSE, MAYBE SOME MEDICAL COSTS AND THAT KIND OF THING. IT’S SO EASY. THE ANSWER IS SO EASY, BUT YOU’VE GOT TO SIT DOWN AND HAVE THAT CONVERSATION. YOU’VE GOT TO DO IT SOONER RATHER THAN LATER. 66% OF AMERICAN ADULTS HAVE REPORTED THEY NEED LIFE INSURANCE. BUT WE HAVE MENTIONED THIS, ONLY 57% INDICATE THEY HAVE IT SOME THERE IS A GAP THERE. AND ANDY, HERE’S THE THING, MOST PEOPLE WILL SAY, I HAVE IT AT WORK. I HAVE IT AT WORK, WHICH IS PHENOMENAL. THAT’S GREAT. BUT THE WORKPLACE CAN ONLY PROVIDE SO MUCH. YOU KNOW, FOR ONE THING, BUT A BIG THING THAT MOST PEOPLE DON’T UNDERSTAND IS THEY DON’T OWN THAT LIFE INSURANCE AT WORK, SO IF THEY CHANGE JOBS OR MAYBE THE BENEFITS PACKAGE CHAMBER OF COMMERCE AT WORK, NOW ALL OF A SUDDEN THEY DON’T HAVE IT. AND THEY’RE OLDER. MAYBE THEY HAVE SOME HEALTH ISSUES, MAYBE SOME THINGS HAVE HAPPENED THAT NOW THEY CAN’T GO OUT AND GET IT ON THEIR OWN SOME IT’S IMPERATIVE THAT YOU GET IT AS SOON AS POSSIBLE. YOU KNOW, I HAVE APPOINTMENTS ALL THE TIME WITH YOUNG, MARRIED COUPLES. THEY’RE BUYING THE HOME FOR THE FIRST TIME. THAT’S THE BIGGEST PURCHASE THEY’LL MAKE. WE SIT DOWN AND TALK ABOUT THAT. TYPICALLY THINGS ARE TIGHT. THINGS ARE TIGHT FOR EVERYBODY. EVERYTHING IS GREAT. I GOT PLENTY. IT’S TRUE. GIVE ME ANOTHER BILL. I’D LOVE TO PAY THAT. SO IT’S THAT CONVERSATION, BUT ONCE THEY DO IT, ANDY, EVERYBODY WALKS OUT AND THEY FEEL SO MUCH BETTER. EVERY SINGLE PERSON WE’VE HAD THAT CONVERSATION WORK THEY FEEL SO MUCH BETTER ON THE OTHER SIDE OF IT. Andy: AND YOU MAY HAVE LIFE INSURANCE NOW, BUT YOU MAY HAVE DONE SOMETHING THAT COULD CHANGE THAT, WHETHER YOU BOUGHT A NEW HOUSE OR YOU’VE GOTTEN MARRIED OR YOU’VE HAD KIDS, AND IT MIGHT BE A GOOD TIME TO REEVALUATE AND SAY, HEY, WAIT, I MAYBE DON’T HAVE ENOUGH COVERAGE SOME WHEN SOMEBODY COMES IN AND ASKS YOU, DO I HAVE ENOUGH COVERAGE, WHAT’S THE ANSWER? THE ANSWER IS I NEED TO LOOK. THERE ARE SOME PEOPLE THAT TRULY WILL HAVE ENOUGH, BUT IT’S RARE. VERY FEW PEOPLE DO. BUT IT ALL DEPENDS ON THEIR SITUATION. YOU JUST BROUGHT IT UP, KIDS, HOUSES, RETIREMENT,, ALL THESE TYPE OF THINGS, WHAT SEASON OF LIFE ARE YOU IN. THAT WILL DETERMINE IT. THERE’S NOT A ONE TYPE FITS ALL. Andy: WHAT ABOUT AGE? AT WHAT POINT DO YOU NEED TO START CONSIDERING THIS? I WOULD SAY AS SOON AS YOU’RE AN ADULT. KIDS LEAVE COLLEGE, THEY HAVE COLLEGE DEBT, THEY HAVE SOME THINGS. THEY MAY NOT BE MARRIED. IF SOMETHING HAPPENED TO THEM, SOMEONE IS RESPONSIBLE FOR THAT DEBT. THE EARLIER YOU DO IT THE BETTER. Andy: AND THE CHEAPER. THE LESS EXPENSIVE, BECAUSE YOU’RE YOUNG AND HEALTHY. THAT’S THE BEST TIME TO DO IT. IF THE BUDGET ALLOWS IT. Andy: STATE FARM, YOU ALSO OFFER A LIFE INSURANCE CALCULATOR. ABSOLUTELY. WE HAVE A LIFE INSURANCE CALCULATOR. YOU PUT IN THE STUFF, IT WILL TELL YOU WHERE YOU NEED TO BE. Andy: HAVE YOU EVER TALKED TO YOUR INSURANCE AGENT LATELY? YOU MIGHT BE THINKING ABOUT CALL OUR GOOD FRIEND DON TIPPS. FIND OUT MORE INFORMATION BY GOING TO DONTIPPS.COM. WE APPRECIATE YOU COMING IN. A LOCAL ORGANIZATION IS RAISING AWARENESS AND FUNDS FOR TYPE-1 DEEP TEASE. HOW YOU CAN GET INVOLVED IN THAT

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