October is Organize Your Medical Information Month, the month to get all your medical information and related paperwork together in one, easy-to-find location. Why is this important? Imagine this scenario: There’s been an accident and you’re unconscious and on the way to the hospital. You can’t provide the medical team with information about your health […]
Most people think of life insurance only when they want to protect their family and provide a source of replacement income in the event of their death. They don’t think of it as a buffer to replace lost assets due to market volatility—for example, the market crashes and you die before you have the time to rebuild or replace the lost assets.
Insurance is meant to protect your family against possible future risks. Nobody is going to sell you life insurance when you are in an ambulance or lying in a hospital bed. That’s why it’s important to have the right coverage in place against foreseeable risks. By all means, if one of these trigger events happens to you, re-evaluate your life insurance coverage. But better yet, reassess your needs every two years just to be on the safe side.
The survey found that consumers are willing to pay $99 a month on average to insure their family. For this amount, a healthy 35-year-old man can purchase a 20-year term life policy worth more than $2.3 million, and a healthy 35-year-old woman can purchase more than $2.6 million in life insurance, but only 29% of those surveyed believed they could afford enough life insurance to replace their income.
Each year, we receive thousands of scholarship applications, and since the program’s inception, we have awarded a total of $600,000 in scholarships. But for every student who receives a scholarship, we must turn thousands more away. In an effort to bring more attention to this powerful program we decided to create this PSA—to share Melina’s story.