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THE SIGNIFICANCE OF DISABILITY INCOME INSURANCE AND LONG-TERM CARE INSURANCE IN PROTECTING YOUR ASSETS AND THE FINANCIAL WELFARE OF YOUR FAMILY
A few days ago I met with a prospective client, an attorney who, I discovered, was born the same year that I graduated from college. I am now officially old in my mind, but “seasoned” in my profession — 34 years of experience this month.
The wife of the prospect is also an attorney, and together they have two young children under the age of five.
During our conversation, I mentioned the importance of life insurance and the husband’s comment was: “ I know I need to buy it, but I don’t like to think about it.“
I may be seasoned in my profession with an extensive clientele list and business opportunities, but I can honestly say that encouraging that young couple to purchase life insurance — whether from me or from someone else — might have been the most positive thing I achieved that day.
Unfortunately, very few people plan accordingly for the potential of every day catastrophes in their future. I am amazed at how many very intelligent, highly-educated people often panic over a 400 point drop in the market out of concern for their investments, but fail to realize the significance of what disability income and Long Term Care insurance means to protecting the assets and the future finances of their family.
This is why disability income and life insurance still needs to be sold . For me that means very “matter of factly and being direct in my communication” but not “pushy.”
I know it’s human nature to put things off we don’t want to think about or do. I can list many. First to come to mind . . . a colonoscopy. But, putting one’s head in the sand to avoid difficult situations does no one any good in the long run.
The purpose of today’s blog is to encourage all who put off getting insurance they know they should have for their loved ones or for themselves to take action before it’s too late.
If you are interested in discussing life, disability and/or life Insurance and your available options, please contact Fahmy & Associates today at 703-760-4630.
— Ken Fahmy
CERTIFIED FINANCIAL PLANNER® CHARTERED LIFE UNDERWRITER CHARTERED FINANCIAL CONSULTANT