As an insurance agent I help people enroll in Obamacare and Life insurance policies at no charge. Iâ€™ve been talking to a lot of people lately about buying life insurance after a community leader in Dallas, TX took me to task for not being â€˜aggressiveâ€™ in bringing life insurance awareness to our community. I thought about it and realised itâ€™s the responsibility of every community leader, religious leader, friend, spouse and even ourselves to make sure we get life insurance.
I have been urging folks to get it, but for every 10 people I talk to, 4 will buy right away but 6 will give one of the following reasons why they wonâ€™t buy it immediately.
- I wonâ€™t die anytime soonâ€‹Â No one knows the day or the hour. Death doesnâ€™t discriminate on age, gender, race, financial status, etc. If youâ€™re making a living, no matter how low your pay, please get some life insurance. If your place of work provides it, please get it there, but it doesnâ€™t hurt to get another private individual policy that can be in place if you lose your job or start your own business.
- If I buy, Iâ€™m calling death to come visit meâ€‹Â total hogwash, thereâ€™s no evidence whatsoever that people who buy life insurance are more likely to die. These are some of the superstitions that keep us poor and prevent people from building legacies.
- I donâ€™t need itâ€‹Â If I die, just bury me in a cheap coffin or cremate and dump my ashes in the nearest pond. We all know this never happens, as soon as the family is notified of the death of a loved one, a proper send off must be arranged. Body must be taken back to your family land for everyone to pay their last respects. Food must be prepared, transport and accommodation must be arranged. Not to mention lost income from all the time off taken to give you a proper send off. Please by all means, put yourself in the shoes of your loved ones and get a life insurance policy to take care of them in the event of your untimely death.
- I canâ€™t afford life insuranceâ€‹Â Term policies are really affordable. Rates can be pennies per day depending on age, health condition, etc. If you budget properly, Iâ€™m sure youâ€™ll realise you have enough money to buy a good life insurance policy. Itâ€™s all about priorities! You canâ€™t afford not to have it.
- Iâ€™m not required to buy it like car, health or home insuranceÂâ€‹Thatâ€™s true. You buy life insurance out of love. Your financial responsibilities such as rent, mortgage, education, food, clothing, shelter, etc do not end just because youâ€™re gone. Instead, they get shifted to others, increasing their burdens. Itâ€™s bad enough that the family would now live without your presence, please donâ€™t make them live without your financial input as well.
- If I buy it, my beneficiary will kill meâ€‹Â If you really believe this, then youâ€™re a very distrustful and paranoid person. Not everybody is out there to get you! I know there are instances where loved ones kill each other for life insurance funds, but itâ€™s very rare. If you feel this can be a problem, just donâ€™t disclose to your beneficiaries that you have a policy. This should not make you not get protected. If youâ€™re gone, your loved ones will struggle to fund your funeral and support your family if you have one.
- Procrastinationâ€‹Â Stop saying youâ€™ll buy it next week, next month, next year...do it now. You might not be around next month, get covered today. The younger you are, the cheaper it is. In addition, you might get diagnosed with an illness such as cancer, HBP, HIV, etc making it very costly or unqualified to get coverage. Generally, the sooner you get it the cheaper it is. For permanent policies, the sooner you get them, the quicker you start getting returns on your hard earned money. I bet you probably have some money sitting in your checking account earning 0 to very low returns, why not put it in a Universal Life Insurance policy and start getting some tax free interest? Itâ€™s a winÂwin, you get protected and your money works for you at the same time. Call me for more details and a personalized illustration.
- Not easy to shop for coverageâ€‹Â I do agree that there are so many options out there leading to so much information that you end up being indecisive and inertia kicks in. To solve this problem, please contact a life insurance agent like me to narrow down the options for you. Its easy to make a decision between 3 choices as opposed to 28. The cost you pay is the same if you were to get it online or through an agent like me. Some agents charge an extra fee but I donâ€™t.
- Itâ€™s not in our culture to buy life insuranceâ€‹Â I believe in many things in my culture, but I also borrow other helpful ideas from other cultures. Life insurance is one of them, especially considering back in the day, folks in my culture did not travel and live as Diaspora. I also believe life insurance used properly can help build a great legacy that can transform the fortunes of your family for generations to come. There are even life insurance policies that provide living benefits, they accumulate cash value that you access later for retirement, terminal illnesses care, education, etc.
- Itâ€™s a waste of moneyâ€‹Â If after reading points 1 through 9 above you still believe that you are wasting your money by buying life insurance, then thereâ€™s nothing else we can do to help you. I rest my case!
Iâ€™d love to hear other reasons you might have or have heard from your family and friends, please check out my contact info below. Please talk to them and make sure they get covered, remember the burden will be on you if God forbid they die without any coverage in place. Weâ€™ll come to grieve with you and even contribute to help offset medical and other final expenses, but we can only do it so many times. Itâ€™s simply not sustainable to raise enough funds for every death that occurs in our communities. Life insurance is the solution, please get covered then urge your people to do the same.
Call me for a FREE, no obligation consultation. I also give you FREE quotes and once you decide on a plan, I enroll you for FREE! You just send your premiums directly to the insurance company. You can also buy it online or through other agents, bottom line is, what matters most is your protection and the protection of your loved ones. Get covered today!
Patrick Nganga, MBA is a licensed independent insurance agent representing many companies.