Sometimes Life Is Short.

Saturday, February 13, 2010

Sometimes Life Is Short.

Sometimes Life Is Short.

Building a business is one thing. Protecting what you build is
a part of good business - and good thinking.

From time to time people will say, "I don't need life
insurance". And sometimes its true. But not often.
The fact is, that only you can determine if you, your
family, or your business, needs you to have life cover.
Professional advisors can and will assess the risk to
which you and your loved ones are exposed.
Then ultimately it is something that you decide for your
reasons. Some of those will be practical; things like
economical protection and to make sure that even if
something unexpected happens…it won't be the worst
possible thing that might have happened. And some of
the reasons you might decide to take out life cover will
be just silly reasons, things you might not even be able
to put your finger on … but it will feel like the right thing to do.
For you see, things like peace of mind, and
being able to sleep at night because you know
that no matter what - everything will be taken
care of, makes a whole lot of sense to some people.

The whole point of risk management, is about
determining your current position and addressing
the "What If" issues that can happen to us all.
Each individual will have a totally different situation
from every other person, depending on their relative
financial positions and family make up. As well as
their different priorities of what is important in life.

This is true for individuals and families, but equally as
important when considering your business.
The needs of the family and the needs of the business
will be quite separate and distinct in many cases.

If you can answer Yes to these questions, you may not
need insurance right now…
Consider:
This is real.
This is now.
This is you.

~ "I Died Today." ~

Would These Answers Be Yours?
My family has a nice home that will always be theirs. They own it free and clear of debt. They are secure knowing they will never have to worry about keeping a roof over their head.
There is plenty of money in the bank right now to give my family income to live on from the interest, without needing to touch the capital

There is other money set aside to take care of schooling and wedding expenses for my children.

There are no debts owing either personally or in the business which my family has to worry about.
There is money available for my family and for my business to keep going while they are waiting for my insurance to pay out.
There is plenty of money available to cover my funeral expenses without financial stress.

Naturally you will have other questions that you think of in addition to these.
So...How did you go?
Does your family and your business have the resources they need now, to bring to life the goals you planned?
Look closely at your own personal risk exposure and discuss it with an advisor who will help you assess your situation more carefully, or if you would like to review your present cover. And make sure your family's wills, powers of attorney are up to date to ensure that your wishes are carried out.