McEvoy Ins Blog
American consumers’ top three financial concerns are health coverage, savings goals, and living expenses.1 What if we told you their fourth financial concern, life insurance, had the potential to solve for the first three?
Let’s take a look at some reasons to LOVE life insurance and what it could do for you.
L – Low costMany don’t realize that life insurance doesn’t have to break the bank—there’s a policy out there that can fit your financial situation. Did you know, that for the price of three cups of coffee per month, you could buy a term life insurance policy?2 While affordability is important when considering life insurance, it’s also important to look beyond the price. What benefits does this policy include? How can it help me financially in the long term?
O – OptionsThat’s why a policy with flexibility can be important. We know our clients have individual needs and financial goals. And, as your life changes, your needs may change as well. Many life insurance policies have different features such as living benefits, cash value growth potential, and benefits you can use while you’re alive that may fit your unique life needs.
V – Various life stagesAs you go through the different stages of life, your financial needs and goals can change. Whether you’re graduating college, getting married, buying a house, starting a family, or planning for retirement, all of these momentous occasions require more financial responsibility. Life insurance can walk alongside life with you and help you during these special milestones.
E – Extra protectionStudies of cancer survivors have suggested that between 33% and 80% of the survivors have used savings to finance medical expenses and between 2% and 34% have borrowed money to pay for their care or have medical debt.3 While the main benefit of life insurance is the invaluable death benefit protection it provides, many policies also come with living benefits, which may be used for a variety of expenses—including covering the costs of a major medical illness.
Your retirement is a time for peace and calm, but you don’t have to wait until your golden years to find relaxation. Achieving work-life balance before you retire can help you stay healthy both mentally and physically.
If you are looking to start reaching work-life balance now, consider the following:
Check-in with othersIf you have close bonds with your coworkers, transitioning to retirement may be emotionally difficult for you. But leaving the workforce doesn’t mean you have to completely sever ties with the people you’re fond of. Keep those connections strong by planning to meet up for dinner, game nights, or coffee.
In-person activities aren’t the only way to enjoy people’s company. Zoom and other online chat platforms are a great way to stay connected to friends and family who are far away.
Review your financesBefore you retire it’s a good idea to talk with a financial professional to help you create a good retirement plan. A financial professional can offer support and guidance, and help you navigate any challenges that may arise before and during your retirement. Having a plan in place may make things easier as you wind down your time at work. It can allow you to breathe a little easier and enjoy your days.