Focusing on Life Insurance

Life insurance may seem like a no-brainer to those who have done the
research and taken time to purchase a good policy. However, there are
many individuals out there who do not have life insurance. For whatever
reason, these people do not realize that life insurance is an
incredibly important part of your long term financial plan. When
someone passes away, life insurance helps those around them deal with
the monetary issues once they are gone. Not having life insurance can
mean that a potential financial crisis for your loved ones could be
around the corner. This causes grief and issues on a family who is
already suffering enough.

People generally do not like to save, said Rene Lacape, Member of
the San Diego Hispanic Chamber of Commerce and Marketing Manager for
Equote Life Insurance. It isn't that they cant save. It isn't
that they do not have money to save. It's the fact that they do not
want to save more. The money that should be set aside for your life
insurance premium should be considered savings not just for your
premium but understanding the big picture in terms of the security the
policy provides in the event of death.

It is important for people to have life insurance, which essentially
replaces the policyholder with a monetary value once they are gone.
They have put money and assets into the savings over the years and if
they do not have the financial savings to replace that, it is
considered a looming economic loss that can burden your loved ones for
years to come.

Economic loss is never good, reminds Rene Lacape. While it is
sad to consider human life in terms of money, it is true. When someone
passes away, there is a loss to the family with regards to spouses and
children. Economically speaking, someone saving money to replace
themselves financially is important but unfortunately unachievable for
most people.

Getting someone to replace himself or herself financially can be a
stretch as some fail to see why they need to save money that would
benefit survivors should they pass away. Some people are preoccupied
with their own wants and often overlook investing in a vehicle like
life insurance. It is important to get them to realize that they need
to replace themselves in terms of income so their family avoids
hardship in coming years.

In the end, it is all about replacing the value of a human life in
terms of assets and family security, added Rene Lacape. Everyone
makes their own small stamp on the economy. If that value is not
replaced in the form of monetary funds that would not be out there, it
is lost. The goal is to not lose that economic value. This is viewed
from sort of a macroeconomic perspective as well as a personal
perspective.”

While it may seem awkward to think of human life in terms of its
monetary and economic value, it is crucial to get clients to understand
the value of life insurance. When they realize that not having life
insurance can affect the family, and cause economic loss, they may
begin to realize the importance of saving that much more money and
purchasing the right insurance policy.