Imagine you’re making a purchase with your credit card. You insert the chip and the screen says, “Transaction Declined.” You try a different card–declined. And then another card–declined again. That’s an incredibly frustrating situation. Many individuals have a similar experience when trying to purchase a life insurance policy; where it becomes emotionally troubling, as well.
Embracing mortality is difficult for all of us. Preparing for your own death is naturally uncomfortable. Therefore, life insurance is frequently the last thing you may want to spend time or money on, so you postpone it as long as possible.
However, there may come a time when you need the life insurance. When buying it is important for the financial well-being of your family or business. But imagine if when you decide to buy it, that metaphoric screen says, “Declined.”
In what may seem like a blink of an eye, a healthy person can completely lose their ability to obtain life insurance coverage. Most individuals lose their insurability at some point. For some, it’s when they are in their teens or 20s due to lifestyle issues. For others, it might be later in life, due to genetics or the onset of a severe medical condition.
There’s no crystal ball that allows you to see your future health. So what can you do to protect your insurability? One solution is term life insurance. It’s an inexpensive way of obtaining coverage and most term products offer you the option to continue your coverage in the future, even if you become uninsurable. You’re essentially locking in an insurable health status at the time the policy is purchased. Life insurance for children is also a great gift to them. You are protecting their insurability and giving them a choice they may not have in the future.
No one knows what the future holds, but you do know that you’ll never be younger; and there’s a possibility that you’ll never be healthier than you are today. We encourage you to take action while the choice is yours and not the insurance company’s.
From the entire C3 team, we look forward to collaborating with you.
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