It is a bright, sunny day. It’s 19℉ outside, which means it’s a perfect day to go to the store and buy a summer bathing suit. No, that doesn’t quite sound right. How about in the middle of the summer time when it’s 100℉? That’s probably the perfect time to buy a warm, winter coat. Again, probably not true. There are certain seasons of our life where it’s better to do somethings and better to do other things and isn’t that the truth when it comes to planning ahead and making the purchases that we need to purchase.
As I’m enjoying the sunshine and the bit of snow that we had last night, I want you to think about preparation. Do you wait until buying homeowners insurance until a tornado has arrived or a fire has taken your home? No probably not. Do you wait to buy automobile insurance until you’ve had an accident or until you’ve hit that deer or until some horrible event occurs that your vehicle is destroyed? Probably not. I was surprised to learn recently that in the state of Wisconsin over 13% of all drivers on the road don’t have any automobile coverage whatsoever. Also, think about those individuals who do have the coverage but are under-insured. Perhaps that’s something that you should be looking at today; talking to your property and casualty agent and making sure that you’ve got enough uninsured and underinsured protection in case one of those 13% or in case one of those people who are underinsured hits you because your policy has to act as if it’s theirs if they don’t have enough or if they don’t have any whatsoever.
This conversation today is to encourage you to do what you should do for yourself, and I’ve found the same thing occurs when preparing a person’s life insurance portfolio. When you’re young and you’re healthy and everything seems to be going perfectly in your life; you can’t even imagine anything bad happening in your life, that is typically when a person does not think about life insurance. When they think about life insurance is typically when something bad happens to someone else or to themselves. And that’s when a person is upset to find out that because of a health condition or because of certain things that they do in their life, maybe because of even a credit report or a traffic accident, that can reduce your opportunity to purchase life insurance that you would love to own. But people always want to own it at the time when it might become due in their life. So just like homeowners’ insurance, automobile insurance, like buying a winter coat or that summer swimsuit, plan ahead, plan today, plan now.
If you would like more information about how that life insurance asset can work in your life, explore my website or purchase my book here at investmentsdonthug.com.