Mark Insurance

Mark Adams

Do you think you can have too much insurance for your family?

Why Buy Life Insurance?

Protect our Family

There are several reasons why we should buy life insurance. In this post I want to identify and discuss what I think is the main reason for purchasing life insurance, that is, to protect our family.

We do not purchase life insurance for ourselves as we would not benefit from it … our family’s will. Okay, we get peace of mind knowing our loved ones will be able to maintain the same lifestyle after we pass. That is the beauty of life insurance, it creates an immediate estate. From the moment the premium is paid and contract signed your estate is ready for distribution if you pass too soon.

While we are alive, we work every day to make sure we provide for our families. So, to me, it is a natural progression to think what would happen to your family, God forbid, you die too soon. How would your family survive without your income? Most financial analyst advise that we leave our families an estate of ten to fifteen times our annual income.

Most people I meet say they have insurance through work. What they do not realize is that most employers provide two to five times your annual income, way less than your family needs. So general advice is that you have your own personal insurance to protect your family. Also, there is the challenge of portability of your employer’s life insurance policy. What happens if you lose your job? In these crazy times we have to look out for ourselves! It is recommended that you meet with your insurance agent at least every other year to review your insurance needs and compare it with what you have. Very often we find clients not having the insurance coverage they think they have or that they need more life insurance to protect their loved ones.

I am often struck with the biblical instructions we get from 1 Timothy 5:8 where it is very blunt, as the Old Testament tend to be “Anyone who does not provide for their relatives and especially for their own household has denied the faith and is worse than an unbeliever.” Very harsh words indeed … I will be especially grateful for your feedback on this biblical instruction. Are the words to be taken literally?

So let’s protect our loved ones God forbid we die too soon…

Mark Adams
2139 Pacific Street
Brooklyn
New York 11233
United States Of America
Cell: (347)345-9282