Your Insurance Matters: Make way for tomorrow

Your Insurance Matters
Make way for tomorrow
by Shirley R. Lamdan, CLU, Hagerstown, MD

"Make Way For Tomorrow". This is an old movie my husband and I watched on Labor Day.
But these words are more than a movie title. They highlight the need to focus on our financial future.
And the consequences of not planning ahead.
Is our future bright?
If you've prepared.
Prepared for what?
Living a long time. Maybe longer than you thought.
In the film, an elderly couple was about to lose their home. Their four grown children held a family conference where it became clear that no one was willing to rescue their parents.
Instead, the elderly couple was separated from one another. The father went with one married daughter while the mother went to a married son's house. The couple wasn't even living in the same town!
The elderly parents became unwelcome and burdens to their children.
Eventually, the father was to be sent to another daughter's house even further from his wife. In their final moments together, the couple passes a shop window with the sign: "Save While You're Young".
"I wish we had done that", the elderly man said to his wife.
All of us can try to do just that. For savings with financial guarantees, annuities and life insurance offer competitive rates, tax benefits, and lifetime income. Your independent life insurance professional can compare companies and products.
You'll find no better place to build your successful financial foundation than with your independent life insurance agent.
That's because the life insurance professional is trained to have a long time perspective. The agent will help you think about the consequences of your financial choices and decisions. Not just what they might mean in a couple months or years. But what they might mean five, ten, fifteen, or twenty-five years from now.
Brian Tracy, motivational speaker and time management expert, urges people to practice a long-term perspective -- especially in their financial lives.
Think of where you would like to be in two years, five years, ten years. Starting today, you can begin to take steps toward the goals you've set for yourself.
Your family's security will be assured with permanent life insurance and annuities.
If you wait until your fifties or sixties, you'll find that permanent life coverage will cost (at least) ten times what you've been paying for term.
What happens? The individual with term life until their 50's or 60's may not be able to afford the high cost of permanent life insurance. They go uninsured.
If the individual waits too long to save with annuities, savings goals may not be reached.
As a result, families must live with an insecure tomorrow.
So, just like the shop window sign in the movie, "Save While You're Young".

Since 1982, Shirley R. Lamdan, CLU of Hagerstown, MD has been serving individuals, corporations, and nonprofits with independent retirement and insurance services. She can be contacted at 301-791-9427 and slamdan@lamdanselect.com.