Your Future Your Goals

Your Life Insurance Fits Your Life – Your Life 10 Years Ago

Why did you purchase life insurance? Perhaps you had a child and wanted to fund her education. Maybe you intended to replace your income and provide for your spouse if you passed away because cancer runs in your family. Possibly you planned to fund your retirement. Or borrow against the policy’s cash value.

Fast forward five or ten years. Are those goals still the same? Or did your child receive a full merit scholarship, you’re in excellent health, and you can’t imagine retiring from the field you love?

Perhaps you don’t remember exactly why you purchased life insurance. Fact: the reasons usually change:

  • You planned to support a daughter. She’s done well for herself and you’ve become very involved with a favorite charity that needs donations.
  • You created a source of tax-free income for yourself but your sister may need help instead.
  • You bought life insurance when you were married and you just divorced.
  • You planned to provide for your brother but your retirement is going to cost much more than you expected.
  • You didn’t think you’d borrow against cash value so the steep terms to do so were acceptable when you bought the policy. Now you need to borrow money at a competitive interest rate.
  • You planned to pay a debt that has been unexpectedly paid through another avenue.

Many people buy life insurance and never look at it again, filing it away, sending it to their attorneys. It’s time to find out if your policies are ready for your future.


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