This week, many people celebrated Halloween, a time for scary movies and adorable children dressed in fabulous costumes. This time of year, my memories always revert to when my daughter was little. We live in a great neighborhood, particularly for Halloween, which is why it attracts hundreds of trick-or-treaters every year. When my daughter was young, we always started the evening at a neighbor’s home for a quick dinner and to “ooh” and “ahh” over the cute costumes. Along the route, there are houses, which distribute candy for the kids, and adult stops, intended to keep the parents happy and warm.
Each year, my husband would push our daughter in her stroller accompanied by two other dads doing the same with their children. Three-year-old children in costumes and laughing dads - I hope this conjures up a memory in your life.
By the time the three kids were in kindergarten, the two other dads had passed away unexpectedly. The first, our next-door neighbor, was diagnosed with Stage 4 colon cancer and died at the age of 48. His doctors discovered it at such a young age that they hadn't even recommended regular screenings yet. The other neighbor was 43-years-old. He’d been enjoying a Saturday evening dinner with his family when he suddenly suffered an aneurysm. He died after being on life support for a few weeks.
Unfortunately, the outcome for the two surviving families differed significantly.
One of the dads understood and valued life insurance. He worked in the financial industry and planned for his future and his family’s. His wife was able to continue sending their children to their private schools, keep their vacation house, and maintain their membership of the country club. He put adequate coverage in place at a young age, with the intention of outliving the need or converting when the time came to continue the coverage, that his loved ones did not lose their familiar lifestyle along with their dad.
The second family did not have the same outcome.
The neighbor was a wonderful husband and dad and loved his family very much. As a way of showing just how much they meant to him, he mortgaged their home to the max to purchase an art studio for his wife so she could pursue her dreams. Unfortunately, he died before the studio was up and running. The only life insurance he had was the term coverage provided by work, which matched his salary (those of us in the business understand all too well that this does not cover much outside of final expenses). His family lost their home and were forced to move to an apartment in another town. The children had to change schools, and there was no money left to run the art studio. We still miss them.
Never forget that what we do is important. Though we can get caught up in the business side of our work – sales goals, prospecting, market performance – our focus is preparing for the unexpected, so they can continue providing for their families in death, as well as they did in life. What we sell allows families to enjoy piano lessons, college years, and vacations. Be proud of what we do and help your clients prepare for what life hands them.
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