The Urgency in Life Insurance

Recently a prospective client asked us the simple, straight-forward question:

“Why do I need life insurance now?”

While each person has a different life situation, once the decision to purchase life insurance has been made, it’s best to apply as soon as possible. Based on past experience, we have seen many scenarios that emphasize the urgency of putting an insurance policy in place. Below are just a few examples where the client got the insurance just or time, or just missed their opportunity.

Scenario 1

Approximately one month after a client received their new policy the client notified that us that her father had just been diagnosed with a hereditary disease. If she waited just 4 or 5 weeks longer to apply for life insurance, the diagnosis could have impacted or completely prevented her from getting insurance.

Scenario 2

A client revealed at policy delivery that a week prior his boss, who wasn’t yet 50, had passed away suddenly. As a result, our client lost his job because the boss had no contingency plan for the takeover of his company, and leaves us to hope that he had appropriate life insurance to take care of his family.  

Scenario 3

A client declared bankruptcy a number of years ago, as a result, the underwriting process was put on hold and the company wouldn’t offer coverage until the bankruptcy was discharged.  

We never know when any of these situations could happen to us or to the people that we know and love. There are a number of life events that could prevent us from getting life insurance when we need it most, so it’s is of utmost importance to act swiftly once you discover there is a need for coverage.