Excuse Me? Is that Tweet-Worthy?

Sooner or later, someone will start talking to you in terms of ‘life events’.  Your dad, perhaps, your gran, a coach, quite likely someone you respect.  You will be going along just fine, no worries, and then it’s ‘how’s that new job?’, ‘when’s the big day?’, “were you approved for the house?’, ‘when’s that baby due?’, ‘student loans kicking in? ouch!’ – you know the deal.  There’s no need to panic;  don’t pretend you don’t understand, either.  Nothing from Scantron is involved but it’s still something of a test.  It’s part of the growing up thing.  You been admitted to the club – now you have to prove yourself worthy.

The insurance world, at least the life and health portion of it, is pretty keen on life events, and it is easy to see why.  Part of your job as an adult is to periodically take stock, see where you are and where you are headed.  And part of that evaluation process could, and probably should, include an insurance needs checkup.

Truth be told, almost any event could trigger the need to evaluate, but it’s the major ones we are focusing on here.  One more time, they are as follows:

  1. Taking on debt
  2. Getting married
  3. Buying a house
  4. Having a baby
  5. Changing jobs
  6. Changes in your business
  7. Supporting aging parents
  8. Planning for college
  9. Charge in marital status
  10. Planning for retirement
As you can see, what all of these events have in common is that they change your financial responsibilities.  You may have a loan co-signer to protect, a family to support, a business to run, a way of life to secure.  Sure, living in debt is the American way – but have you mapped out a sensible way to manage that debt?  You will want enough life insurance for you and a spouse, too, or partner, to be able to have your outstanding debts covered with enough left over for your loved ones to move forward.  
Keep in mind that planning for emergencies does not somehow make bad things happen, any more than pretending nothing ever goes wrong keeps the wolves away.  You have to get a grip.  You don’t want your daughter’s college fund to disappear if you should die before she finishes school; nor should your retirement account go unfunded because you never had a backup plan.
Here is link to a needs evaluation tool.  Have a look →calculator.
It’s just to get you thinking –  and remember, find an agent who listens to you, takes the time to get to know you and who answers all your questions.

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