So yesterday I bit the bullet and wrote a fresh description for the back cover of “Dirty Little Secrets” for Consumers. That was all I needed to complete the process for the paperback POD (print on demand) version of the book. I felt the rewrite was necessary because the original was simply too long for the allotted space. I think the new version turned out better than the original because I directly addressed new intelligence concerning why people don’t buy life insurance. I say “new” but it really wasn’t. In fact, the reasons given were the same reasons I wrote the book in the first place for the most part.
The article stated “women” don’t buy more life insurance because they feel it is too complicated and they don’t know how much to buy. Well, duh. And it’s just not women either. The insurance companies have made life insurance far too complicated. Not only that, they tend to push for prospects to way overspend rather than focus on affordability. Then they leave money on the table. Huh? How can they do both?
First of all, everybody, or almost everybody, should have life insurance. If you think about it, this is a no-brainer. We are ALL gonna die. We all know that. Dying costs money. We all know that. Life insurance is the single best way to take care of the money problem. We should all know that. So if everybody with a brain and at least one loved one understands this, every one of them should have life insurance. Simple. Since everybody with a brain and at least one loved one does not have life insurance, money is left on the table. Granted, if all life insurance was purchased how I envision it, it would be a lot less money because all those folks would be buying at the very cheapest rates. That brings us to the affordability issue.
My approach is to include the entire family in the purchase decision. And no, I don’t mean asking your three-year-old’s opinion on the matter. I mean your children should have coverage as well as the parents. Some think this is morbid. Some are aghast thinking I’m suggesting potentially “profiting” from the loss of a child. Neither of these thoughts are true. Insuring children guarantees they will be covered no matter how long they live, and I wish them all very long lives. Even better, this coverage can be had at rock-bottom rates that never, ever increase so the insurance will always be affordable. Of course this means the premiums will have to be kept up, but most families spend more money on snacks in a month than the average premium costs. Then there is the part two of the affordability equation.
The second factor for affordability is to keep one’s eye on the primary purpose of life insurance: covering burial costs. Even the poorest families should be able to afford the premiums for this insurance. In fact, since I recommend whole life polices with a fixed premium, these will typically cover burial costs with some left over. Most companies like to present coverage as a multiple of annual income and then work down to an affordable premium. I recommend just the opposite. Decide on an amount your family can easily afford to spend on insurance for the whole family and buy what you can.
These recommendations, when considered with the types of policies I suggest simplifies the entire process so anyone can find and secure decent life insurance at the best prices.
These issues are important enough that I felt the description should state flat out readers can find the answers in the pages of this book. The print version turned out to be just 70 pages long. For sure there is not much to it but, really, that’s the point! With over 1,000 insurance companies offering thousands of policies, the information out there can put anyone’s mind in a tailspin. You don’t need to know all that much to buy good life insurance. You just need the right information. It’s in there.
Pick up your copy today! Life Insurance “Dirty Little Secrets” for Consumers Revealed!
