Are you leaving your family's financial future to chance?
8 Essential Things to Know About Your Family's Finances
It's difficult to consider that we may one day not be in our family's lives, but it's important to ask ourselves: "how would my family manage financially if I were suddenly no longer in the picture?" There is no need for your loved ones to be at risk of financial jeopardy. A vast majority of American families have access to affordable, quality life insurance, they simply need help choosing the right provider and plan. That includes you! Consider this:
Nearly 50% of American households have either no emergency savings or less than 3 months worth in the bank.
Among individuals that DO have life insurance, 1 in 5 say they don't have enough coverage through their employer.
The average funeral costs between $7,000 & $10,000 depending on your family's financial situation.
Most employers only cover Life Insurance as long as you are working. If you are injured or get sick, you lose those benefits.
Most employer provided life insurance policies only cover one or two years' salary - well below the recommended average for coverage.
One-size rarely fits all, and group insurance coverage won't consider your family's unique needs.
Many policies obtained through work only cover the employee and not spouses.
According to The Wall Street Journal, "For most people, term life still offers the best combination of coverage and cost".
Growing up with divorced parents taught me a lot about the importance of family financial planning. During my childhood, my father went through two bankruptcies trying to provide a better life for me. He had a great entrepreneurial spirit, and taught me that with lots of hard work and the right mindset, you can succeed. After several failed businesses, he went into the financial services sector, and worked hard to rebuild what he had lost financially after expensive custody battles with my mother. His time in the industry taught him the importance of family financial planning. Tragically, when I was 15, he was killed in an accident. However, because he had the foresight to get the proper financial protection, I was provided for during such a difficult time.
Flash forward to today, I am now a father of my own, own 3 successful businesses, and am privileged to help thousands of others every year make sure they have the financial protection that my father provided for us. Recently, however, my son and I also lost my wife to a sudden illness. This second, devastating loss has reaffirmed to me the importance of having financial protection. My own personal experiences make me passionate about helping people with their personal and professional finances, so that they can have the same protections that I was blessed to have in the face of immense tragedy.
Worried about how your family would be provided for if something were to happen to you? Then, we should talk. Hit the button below to get started.