It can be scary to sit down with your spouse and talk about the what-ifs of life but it is also essential to ensuring the financial security and future freedom of your family. If asked, many couples would admit that of course it’s vital to protect the financial future for their loved ones should one or both of them die unexpectedly. Still, according to a 2010 State Farm Life Insurance Study 74 percent of couples rarely actually put a plan of protection in place or even really discuss it in detail.
A 2011 study from the finance research firm LIMRA concluded that 41 perfect of adults in the United States don’t even have life insurance. Of those involved in the survey, 62 percent of them disclosed that they feel because of uncertainty of the economy having life insurance is even more important that in more stable economic times.
Local State Farm insurance agent, Lisa Perez Houghtaling, has some tips to make the discussion a little easier:
1. Talk before you're in a financial crisis. Pick a time when you're not stressed about money and then treat the topic as you would any other aspect of your financial planning.
2. Make a plan that incorporates life insurance as a primary component of your overall financial strategy. Just having a plan in place can be reassuring.
3. Set a monthly budget and learn what life insurance options you can realistically afford. Be sure to schedule follow-up evaluations too to be able adjust your coverage as your needs, family situation and income change.
4. Consult insurance expert Lisa Perez Houghtaling, who can provide an outside perspective and help make the discussion less stressful.
5. Focus your discussion on the love you have for your family and the ultimate goal, which is to protect them from financial burden and to make sure all the dreams you have for your kids or loved ones will happen no matter what unexpected things may occur.
Contact your local State Farm agent to learn more about the life insurance options that can protect your family's future.
Lisa Perez Houghtaling Agency
29950 Haun Rd Ste 205
Menifee, CA 92586
Office: 951-723-1900 Fax: 951-723-1921
Monday-Thursday: 9am- 6pm
After Hours/Weekends: By Appointment