3 Reasons to Consider Term Life Insurance

3 Reasons to Consider Term Life Insurance

by | September 23, 2021 | Life Insurance | 0 comments

Despite the devastation the pandemic has caused over the past year, perhaps there is a silver lining to be found in COVID-19’s dark clouds. Mortality and financial wellness have been brought into sharp focus, resulting in more people seeking life insurance coverage to protect their families.

Thirty-one percent of Americans now say they are more likely to buy life insurance,* up from just 11% in 2011. However, a common misconception around life insurance affordability persists — the majority of people overestimate the cost of life insurance by as much as three times the actual cost. This misconception, combined with a tendency to prioritize other financial needs, leaves too many families vulnerable to financial hardship if a loved one unexpectedly passes away.

Of the two main types of life insurance — term and permanent* — term insurance can be an attractive option to many due to its affordability. With the help of term insurance, families can afford to make sure they will be able to maintain their lifestyle and keep their dreams within reach even if a family wage earner dies.

Greater accessibility and speed make buying term insurance easier today* than it was in the past. Many companies have expanded their suite of online tools and resources to offer an accelerated application process, faster underwriting, and more efficient application processing.

Term insurance can also be a central pillar of a long-term financial plan. It can lock in your insurability — the ability to qualify for insurance — at the same time it locks in affordable death benefit protection for a set period of time.

A closer look at locking in future insurability with a term life insurance policy reveals three significant benefits.

Protection through health changes. As people age, they are more likely to develop health problems that could make life insurance more expensive or even disqualifying. Many term life policies have a conversion feature, which allows a policyholder to convert their term policy to a permanent policy before it expires without going through another medical exam, regardless of health changes. This ability to lock in insurability is advantageous given the many health changes you might experience throughout your life.

Protection through job changes. Ten percent of workers lost employer-provided life insurance coverage as a result of the pandemic. Even those with employer-provided group coverage often overlook the employee-paid, Optional Term Life plans during open enrollment, leaving them with inadequate protection. While it’s ideal to have a combination of coverage individually and through your employer, term insurance offers higher levels of coverage and more stability during employment disruptions.

Protection against debt and final expenses. Americans are currently carrying approximately $14.35 trillion in mortgage and non-mortgage debt. Life insurance can help your loved ones pay off debts while maintaining their lifestyle and forging ahead in pursuit of their hopes and dreams.

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What to Expect When You’re Shopping for Life Insurance

What to Expect When You’re Shopping for Life Insurance

by | September 9, 2021 | Life Insurance | 0 comments

Let’s face it: most people don’t get excited about the idea of buying life insurance. But for many, the pandemic has given them pause. A recent survey shows that 45% of younger Americans (ages 22-40) are more likely to buy life insurance today than they were before COVID.

If you’re finding yourself in the “more likely” column these days, knowing what to expect can make it easier to get started. So we asked Paul Dougherty, a veteran life insurance agent based in Maryland and past president of the National Association of Insurance and Financial Advisors, for his insights. We also talked with Marilyn Gill, a 48-year-old life insurance shopper in San Francisco, about her recent experience buying a policy through an online broker.

Understand the role of an agent

“We are at our best when we are solving a problem for a customer that they may not even know they have,” says Dougherty. “Our job as agents is to get to know you and to be able to look around the corner for you.”

A licensed insurance professional will conduct a comprehensive financial needs analysis, and walk you through the questions that will help you determine how much and what kind of insurance is right for you. This consultation is free.

“We are not transactional professionals,” says Dougherty. “You have a thousand things on your to-do list. We have the luxury of looking at this through the lens of where the potential downfalls are, and helping you solve those risks before they become catastrophic. When we can shine light on some of those questions that maybe you’ve never even asked yourself, and then turn that light to some solutions, that’s a great feeling.”

Online coverage is always better than none

“The best type of policy is the one that’s there when you need it,” says Dougherty.

If a new customer has an online policy, “We let them know they made a good choice. We often just leave that in place and build a plan around it to supplement what’s there. I tell people I’m either going to give you a better package, or I’m going to make you feel better about what you have. In some cases, they may have exactly what they need.”

For Gill, “I would love to have someone handling all my insurance needs, but I didn’t have an existing agent, and I would have felt way too awkward calling one and going into all my health history. I also like to research things online.” A sales and design consultant for a commercial gardener, she spent evenings and weekends gathering information before submitting an application. 

Look for help from a licensed agent

“Our language is unique to our business,” says Dougherty, “and it’s not common for customers to understand it. We explain how different policies work and show our customers how we can get to a solution through a variety of different methods.”

Expect help from a licensed agent even if you’re shopping online. Says Gill, “I wouldn’t have moved forward with an online policy if I didn’t have the option to talk to people on the phone. It’s too big of a decision to do completely online.”

Five tips in choosing an agent:

      • Get referrals
      • Find out about their specialties
      • Ask if they hold any professional memberships
      • Schedule introductory meetings
      • Inquire about their education and training. Find out more »

Get ready to cast aside preconceptions

“I learned a whole lot,” says Gill. “One of the things I learned was that if you have a health condition that’s being successfully treated, your rates might not be affected. That was eye-opening. I had been quite stressed out about that.”

As an ex-smoker, she was also relieved to find out her former habit would have no impact on her rates. “If you’re in relatively good health now, that’s all that matters.”

For many people, the biggest eye-opener is cost. According to the 2021 Insurance Barometer Study, consumers wildly overestimate the cost of life insurance. In fact, a healthy 30-year-old can get a $250,000 20-year level term policy for about $13 a month. In Gill’s case, she purchased a policy for less than $50 a month that would pay off her mortgage with room to spare, giving her college-age daughter “my biggest asset free and clear.”

Know the key questions

Dougherty says, “Ask yourself, if something were to happen to you tomorrow, what would be the financial impact on those you care for?”

An agent will help you quantify this impact through a confidential discussion of your income and other assets, along with your debts (like a mortgage). They’ll ask who you’d like the policy to provide for — what’s known as a beneficiary. And they’ll ask about your health condition, hobbies and other activities that might affect your eligibility. Have this information handy, along with any initial thoughts and questions.

Questions to ask your agent:

      • How much life insurance do I need?
      • What does coverage include?
      • What if I can’t pay my premiums?
      • Will my premiums ever go up?
      • Can I convert my policy or update it in the future?
      • What companies do you recommend and why?

When making your decision, longevity and financial strength matter.

If you’re looking at a handful of companies with similar rates, consider reputation, financial strength and longevity over cost.

“You have to trust that the company has been around and will be around—that they’re financially strong enough to make a promise and keep it 40-50 years from now,” says Dougherty. The A.M. Best Company rates insurance companies on their ability to meet their financial obligations, while the Better Business Bureau and J.D. Powers rank customer satisfaction.

Get started now to protect your loved ones. When you’re ready, find out how to choose a qualified insurance professional and use our Agent Locator to find one in your area.

Kelly Rowland: ‘With life insurance, I’ve got you.’

Kelly Rowland: ‘With life insurance, I’ve got you.’

by | September 1, 2021 | Life Insurance | 0 comments

Our 18th annual Life Insurance Awareness Month (LIAM) is here! Award-winning singer, songwriter, producer and humanitarian Kelly Rowland joins us this September as LIAM Spokesperson to help educate others on the importance of including life insurance in their financial plans and share the message, “With life insurance, I’ve got you.”

As Kelly says, getting life insurance is a simple and affordable solution to the question of how things would continue on financially for our loved ones if we weren’t here.

For Kelly, the greatest thing we can give the public this month is information on what exactly life insurance is and what it can do for a family. It’s all about education – and we know the perfect place to start.

Check out our Life Insurance 101 information as a first step, and then estimate your coverage needs by answering a few quick questions on our Life Insurance Needs Calculator. Finally, take action by finding an insurance professional in your area.

It’s time to check “get life insurance” off your list, and there’s no better time than Life Insurance Awareness Month.

5 Things That Cost the Same (or More) as Life Insurance

5 Things That Cost the Same (or More) as Life Insurance

by | August 26, 2021 | Life Insurance | 0 comments

Most people would say their family’s financial security is high on their list of priorities. And yet it’s hard to get excited about budgeting for life insurance.

A big part of that hurdle is cost — or, rather, perceived cost. The 2021 Insurance Barometer Study by Life Happens and LIMRA found that more than half of consumers surveyed overestimate the cost of life insurance by 300% or more. Younger Americans are likely to overestimate the cost by as much as six times!

In reality, a healthy 30-year-old can get a $250,000 20-year term life insurance policy for about $13/month. Let’s compare that to the cost of some other common everyday expenses.

 The no-shame game

A quick note: the point of this comparison is not to discount the value of our modern era conveniences, or shame anyone for the small pleasures we’ve all turned to (or missed desperately) during the last year and a half. Instead, we’ll show that you can make room for both things — your post-pandemic lifestyle, and the peace of mind life insurance brings — with virtually no sacrifice.

 So, what else costs about $13?

    • A bottle of wine. We know. The last year and a half has been rough, but just one less bottle of vino per month could make room for the life insurance protection your family needs. In California, the average price of a bottle of mid-premium supermarket wine is $13.29, with a $1-2 variation across the nation.
    • A single subscription meal. An average entrée runs $10-15 with most subscription meal services. Dialing it back by just one entrée per month could cover the cost of long-term financial protection for your family.
    • Streaming fitness classes. At $12.99/month, exercise fans say it’s worth every penny for access to classes. So why not budget for both? For about the same price, you may also be able to get life insurance coverage as well.
    • Your beloved “custom topping” burger meal (and peanuts to tide you over until it’s ready). The average check at your favorite “fast-casual” restaurant runs about $12. If you eat at one of these restaurants a few times a month, just cutting back on one trip gets you pretty close to your life insurance goal.
    • A music streaming plan. The family subscription for a music streaming service comes in at about $13 per month, and it’s a cost most of us don’t blink an eye at. While life insurance coverage isn’t quite as “set-and-forget” as being able to download your favorite playlist (don’t skip out on your annual policy review!), it can be just as affordable.

Budgeting for both

Your family’s welfare is always on your mind. Fortunately, making room for life insurance can be easy. You can budget for both, or in many cases, modify a single monthly expense — maybe something you don’t think twice about — and never even feel it.

Consider what’s gained: your peace of mind, knowing your family is protected from financial loss should something happen to you unexpectedly. During a challenging time, they’d be able to continue living in the family home and focus on their needs, without the additional financial stress of your lost income.

That certainty is something that’s difficult to put a dollar value on. But for $13/month, many would call it a steal.

If you’re one of the 40% of Americans with no life insurance, it’s time to get started. Estimate your own life insurance needs now.

Join Life Happens’ Twitter Chat for Life Insurance Awareness Month

Join Life Happens’ Twitter Chat for Life Insurance Awareness Month

by | August 9, 2021 | Life Insurance | 0 comments

With 102 million adults living with an uninsured or underinsured need gap, there is a chance you need more life insurance coverage. Now is your opportunity to learn from financial experts and companies about the facts and benefits of life insurance during Life Happens’ Life Insurance Awareness Month (LIAM) Twitter Chat. You can also ask questions, reply to other comments and engage in the greater conversation.

We hope this chat educates Americans about how life insurance is a simple and affordable way to protect their loved ones’ financial futures. It allows you to say to your loved ones, “I’ve got you” … and mean it.

Date: Thursday, September 9 from 1 to 2 p.m. EDT

Where: Join us on Twitter using your personal handle or your company’s handle.

Hashtag: Use and follow #LIAM21Chats during the above timeframe

Life Happens will moderate the discussion and drive the conversation on Twitter using the questions and statistics below. Remember, if you want to participate in the conversation, you’ll have to use the #LIAM21Chats hashtag in each tweet.

All statistics below come from the 2021 Insurance Barometer Study, Life Happens and LIMRA, 2021.

Q1: Respondents of the 2021 Insurance Barometer Study were asked how the pandemic affected their financial concerns. Out of the top five seen here, which concern(s) directly relate to some of the benefits of life insurance? #LIAM21Chats

    • Paying my monthly bills (26%)
    • Being able to save money for an emergency fund (23%)
    • Having enough money for a comfortable retirement (22%)
    • Job security/maintaining a steady income (21%)
    • Losing money on investments (20%)

Q2: Almost half (46%) of Black Americans live with a life insurance need gap. How does your organization educate and engage the Black community to help close this insurance gap? #LIAM21Chats

Q3: Two distinct reasons uninsured Americans say they do not own life insurance are 1) a lack of trust with insurance companies and 2) a lack of trust with insurance agents, brokers, and/or financial advisors. How can we build trust with these Americans? #LIAM21Chats

Q4: More than half of the population thinks term life insurance is over three times more expensive than it is. What do you think causes this misconception? How can we better educate the masses about its true cost? #LIAM21Chats

Q5: From 2011 to 2021, life insurance ownership has decreased from 63% to 52%. What do you think is the cause of this decline? #LIAM21Chats

Q6: Nine in 10 adults report using social media generally and half report using social media to gather information on financial topics, companies, or advisors. How are you raising awareness about life insurance this month? #LIAM21Chats

Help us share the importance of life insurance during Life Insurance Awareness Month by participating in the Twitter Chat and join us all September long by using #GetLifeInsurance and #LIAM21 on social media.

Life Insurance Is Only for Final Expenses

Life Insurance Is Only for Final Expenses

by | August 4, 2021 | Life Insurance | 0 comments

Life insurance is there to pay for funeral and burial costs, right?

Yes! That’s correct. And many Americans understand that. In fact, it’s the No. 1 reason people state for having life insurance, according to the 2021 Insurance Barometer Study by Life Happens and LIMRA.

This year, the study also dove more deeply into the perceptions and attitudes of the Black community through a special report, “Black Americans: Life Insurance Attitudes and Ownership.” The report found that Black Americans have an even deeper appreciation for what life insurance does when someone passes away. Around half of Americans (48%) say they have life insurance to cover final expenses, and that number surges to 66% for Black Americans.

But that’s only part of the story.

What happens to the family — the home, the bills, the education for the kids, the planned retirement — if a key source of income disappeared with the death of their loved one?

How do those bills and dreams get paid for tomorrow, the next day, next year and into the future?

That is what life insurance is there for, too. But many people don’t realize the full scope of what a robust life insurance plan can do longer-term. In fact, only a third of Americans say a major reason to own life insurance is to cover lost wages or income (35%) and that number is a bit lower for Black Americans (31%).

Here are things that people can use life insurance to cover:

Immediate expenses

    • funeral and burial costs
    • medical expenses
    • mortgage or rent
    • car loans
    • credit card debt
    • taxes
    • estate settlement costs

Ongoing expenses and bills

    • groceries
    • housing
    • utilities
    • transportation
    • health care and insurance
    • continuing a family business

Future goals

    • College costs
    • Retirement

Living Benefits of Life Insurance

Beyond replacing income, your policy can have living benefits. Permanent life insurance (versus a term life insurance policy) accumulates cash value over time. And you can use that cash for whatever you like: to help buy a home, cover an emergency expense or even supplement your retirement income — no questions asked! (But remember that withdrawing or borrowing funds from your policy will reduce its cash value and death benefit, and may have tax implications, if not repaid.) In addition, life insurance can help you leave a financial legacy for your house of worship, alma mater or any other organization you love.

Keep in mind that life insurance is so much more than “burial insurance.” It truly can be the gift that keeps on giving long after you are gone. You can explore the life insurance 101 section of this site for more information or contact an insurance professional to help you find coverage that fits your budget.

How to Build Wealth & More With Permanent Life Insurance

How to Build Wealth & More With Permanent Life Insurance

by | July 13, 2021 | Life Insurance | 0 comments

Many people know how term life insurance works. But they often don’t know how permanent insurance works. 

To refresh, term life insurance provides protection for a specific period of time. This is known as the “term.”

If you pass away during the term, your loved ones receive a set amount of money. This money is known as the “death benefit.” Term life insurance is an affordable option that’s especially popular among parents of dependent children. 

What is Permanent Life Insurance?

Permanent life insurance offers a death benefit with lifelong protection. Additionally, it offers you the ability to accumulate cash value on a tax-deferred basis. It’s money that’s there for you whenever you need it, for whatever you need it for.

How Permanent Life Insurance Builds Wealth

Have you considered putting your tax refund toward growing your wealth? If so, you may want to consider permanent life insurance.

Marcus T. Henderson, Sr., RFP, AIF, MRFC, president and CEO of Henderson Financial Group, Inc., in Brentwood, Tenn., has been educating people about life insurance since 1989. He likens the difference between term and permanent life insurance to the difference between renting an apartment and buying a house.

“With permanent life insurance, you actually own something and have equity,” he says. “You have money to use even if the death benefit is never used.” 

Marcus says countless clients over the years have tapped into the cash value of their permanent life insurance. It’s helped them buy a house, weather a financial emergency and more. “That’s especially true now with our longer lifespans—people often outlive their term insurance,” he says.

Other Benefits of Permanent Life Insurance

Permanent life insurance has other benefits beyond building your wealth. They include: 

  • Steady returns for peace of mind. Marcus reminds customers to compare cash value’s rate of return to savings and money market accounts’ rates of return. Cash value is almost always much higher. He also cautions against comparing that rate against stocks’ rates. While stocks can offer great returns, they are much riskier.
  • Lots of policy options. Marcus says many customers falsely believe there’s only one kind of permanent life insurance. In reality, there are four types. Their main differences are whether you pay a fixed or a variable premium and how you want to invest the savings.
  • Lifelong coverage. The “term” never ends on your permanent life insurance policy if you keep paying your premiums.
  • Costs tend to go down over time. Marcus reminds customers that permanent life insurance typically costs less the longer you own the policy. “There even comes a point where the policy starts to pay for itself,” he says.
  • Living benefits. Many permanent life insurance policies let you customize your coverage so you can benefit from them while you’re still alive. They include:
      • Critical care coverage in case you ever incur costs after a health crisis.
      • Long-term care coverage in case you ever need home health care, nursing home care or personal or adult day care.
      • An accelerated death benefit that lets you tap into money from the death benefit if you have a terminal illness. 

Consider a Term to Perm Policy

Some term life insurance policies give you the option of converting them into permanent life insurance policies later on.

Marcus often recommends “term to perm” policies to his clients. A big reason why is that poor health in the future could prevent you from getting permanent life insurance. “Term policies with the option to convert let you get permanent insurance as if you were the younger version of yourself,” he explains.

Getting Permanent Life Insurance Coverage

Working with an insurance professional like Marcus is a great way to learn more about permanent life insurance and get coverage. Check out our helpful information on how to choose a qualified insurance professional. Then use our Agent Locator to find one in your area.

Life Insurance: A Key Piece of Protection for LGBTQ Families

Life Insurance: A Key Piece of Protection for LGBTQ Families

by | June 23, 2021 | Financial Planning, Life Insurance | 0 comments

If you’re LGBTQ, you may be fully exploring what it means to be able to build your life around who you love. Strong legal protections in the last 15 years have ushered in more than just external changes. According to MassMutual financial advisor Mindi Wernick with Lee, Nolan & Koroghlian in New York City, these protections have provided validity and certainty, creating an important psychological shift.

“Now that gay couples are seen in the eyes of the law as equal, they can build their lives around who they love,” she says. “They’re joining finances, and doing more traditional things, like buying life insurance.”

The big shift in life insurance for the LGBTQ community

“Previously, life events like getting married and having children were coming up more often for straight couples,” says Tyler Sweigart, a State Farm agent in Washington, D.C. “Now things are changing where we have gay marriage, adoption and surrogacy. We ask about life events with every single customer.”

Even so, according to LIMRA, just 38% of LGBT households own individual life insurance, compared to 44% of the general population. The reasons are deeply historical and often gender-specific.

A stubborn challenge

Life insurance has to do with “money, mortality and who you love, all in one conversation. That’s hard to begin with,” explains Wernick. Historically, LGBTQ people have found this especially challenging. Not long ago, disclosing sexual orientation to the wrong person could be career-ending. “Some of my clients today are still closeted,” she adds.

Hand in hand with this reality: a significant lack of LGBTQ representation in the financial services space. Wernick, mother of three sons with her now-wife and partner of 23 years, reports that she is the only gay woman she knows of in her wealth advisory firm, in an industry where just 24% of the sales force is female. Many gay consumers, especially women, she says, feel “no connection” with a typical insurance agent.

As a result, “LGBTQ people come to the party kind of late, and that’s when coverage is more expensive.” The price of life insurance depends on your age and health, among other factors. The younger and healthier you are, the lower your rate.

The double whammy for lesbian couples

Earning disparities and common gender-based attitudes around money tend to hold women back financially, which can be exacerbated for lesbian couples, says Wernick.

“Women are primed to be proactive about their health. Men are proactive about their wealth. They measure themselves by how much money they have. Women often don’t take their financial lives seriously enough, early enough. We measure ourselves by different standards — by the quality of our relationships, by how much time we spend volunteering, by how much we nurture our talents, by how often we’ve used our Peloton.”

What surprises everyone about life insurance

Gay or straight, however, Wernick says, “I think everyone is surprised at how cheap term life insurance is.” Consumers overestimate the cost of life insurance by up to five times the actual amount, according to the 2021 Insurance Barometer Study, by Life Happens and LIMRA. In fact, a healthy 30-year-old can get a $250,000 20-year level term policy for about $13 a month.

In addition, “Permanent life insurance is an asset that many people don’t realize has dual benefits,” says Sweigart. “It’s a way to transfer wealth, there’s an opportunity to grow cash within the policy, and there are lot of great things you can do with it come retirement.”

Finally, many in the LGBTQ community don’t realize coverage is now possible today for those who are HIV positive, and for those who are transgender.

Protecting hard-won gains

Today, LGBTQ people live in a world hard to imagine just a couple of decades ago. Life insurance can help protect hard-won gains and provide living benefits.

“Seek somebody out that you feel comfortable with and you feel is a good fit. Look for an organization that’s financially stable and strong,” says Sweigart. “And shop around for coverage that works for you. There’s a policy that’s right for every situation. If price is a critical question, something is better than nothing.”

Finally, he says, if you’re HIV positive or transgender, “Don’t be discouraged to apply.”

“It’s getting better out there,” says Wernick. “You can’t be fired for being out, so we’re better able to take care of each other and build a life now. People are coming out younger, so they’re partnering younger and having families. So the trends are moving in the right direction, and gay people are seeing that they need life insurance just like any other couple.”

Working with an insurance professional like Tyler or Mindi is a great way to learn more and get coverage. Check out our helpful information on how to choose a qualified insurance professional. Then use our Agent Locator to find one in your area.

Kelly Rowland Shares Her Life Insurance “Why”

Kelly Rowland Shares Her Life Insurance “Why”

by | June 16, 2021 | Financial Education, Life Insurance | 0 comments

You may know Kelly Rowland as an award-winning singer, songwriter, producer and humanitarian. But she’s also a mom to two young boys, and this September, she’ll join us as the spokesperson for Life Insurance Awareness Month (LIAM), coordinated by Life Happens, to share the important message that life insurance is her way of saying to her sons, “I love you. I’ve got you, and I’m seeing to your future no matter what.”

Life Insurance Is About Protecting the Ones You Love

The importance of life insurance was made real for Kelly when a friend lost her husband suddenly. They had a conversation after his passing, and the friend got on her about life insurance, saying, “Kelly, you gotta get it done; this is so important. You want to make the process as seamless for your children as possible because that’s one of the ways you show them that you love them.”

For Kelly, that really hit home. With a family, a home and a flourishing career, she says that having life insurance truly eases her heart and her mind. It’s a solution so that if something does happen, her loved ones will be taken care of.

As Kelly put it, “I’m so happy that it almost scares me. We’ve got our beautiful sons, we’ve gotten the house we’ve always wanted, we’re able to do things together as a family, and our love is so thick and beautiful.”

Life insurance is a way to protect those things. It allows you to say to your loved ones, “I’ve got you” — and mean it.

Changing the Conversation About Life Insurance

Kelly acknowledges that people often shy away from the topic of life insurance – they just think about the loss, about not being there in the future. They think that if they address the topic, it’s going to “make it real.” That’s why she’s so passionate about educating others on why they need coverage.

As she told us, “When you take care of those things — things people don’t like to think about, like the security of having life insurance — there’s a sense of freedom. It’s like a burden lifted off of you, and that’s what people should rest in.”

Stay tuned on social media as Kelly shares more of her powerful life insurance message in the lead-up to LIAM this September. In the meantime, check out our Life Insurance 101 page for unbiased info on the basics and our Life Insurance Needs Calculator to get an estimate of the amount of coverage you need to protect the ones you love.

If you are a life insurance advocate, agent or advisor, be sure to check out our marketing content to get your LIAM campaign ready to go. Go to www.lifehappenspro.org.

The American Dream Secured With Life Insurance

The American Dream Secured With Life Insurance

by | May 24, 2021 | Life Insurance | 0 comments

May is Asian/Pacific American Heritage Month, a time when we celebrate AAPI voices and stories and highlight how they are woven into our national fabric and the success of our country. At Life Happens, we want to pay tribute to Steven and Ngoc Anh Tang, who knew that America held the dream for their future. They left their native Vietnam so their children, Jimmy and Nancy, could have a better life.

Steven came first and began work stocking shelves at a local grocery store. From there he found work at a glass-blowing company and was able to make enough money to bring his wife and children to America.

As the couple built their lives here, they also understood that there was more to securing their children’s future than just hard work in the here and now. So, they sat down with their insurance professional Annie Vu to purchase life insurance. They wanted to make sure their children would always be taken care of, no matter what.

Unfortunately, when the children were teens, Ngoc Anh was in a car accident and died later of a stroke caused by her injuries. And just three years later, Steven succumbed to liver cancer.

It Did What It Was Meant to Do

While Jimmy and Nancy were devasted by the loss of their parents, the one thing they didn’t have to struggle with was money. The life insurance did what it was meant to do: secure their futures financially.

Jimmy was able to buy a home near the college where Nancy was enrolled, so he could be there to support her on her journey. These things were made possible by life insurance.

“Life insurance is vital,” says Jimmy, “because you never know when it will happen. Getting it doesn’t mean, ‘I’m going to die.’ Instead, you buy it so your loved ones will be comfortable and won’t have to worry about the financial aspect of their life if something does happen.”

Steven and Ngoc Anh left a legacy of financial security for their children that has allowed them to pursue their own American dreams, and their future looks bright. You can watch their story here and learn more about your own life insurance needs here.

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