A Life Insurance Policy

What Is Life Insurance Really?

What in fact is a life insurance policy? What is all the hoopla really about? One writer put it this way.

“A life insurance policy is just a drop of ink on a piece of paper.” There is nothing very significant about that.

The important thing to focus on is what this policy does whether it be term life, universal life or whole life insurance coverage. What does it do for the person who buys this paper with drops of ink all over it? Of course the value of it all depends on what is written on this piece of paper.


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A Life Insurance Policy – What You Need To Know

Your life insurance contract says that if you should die suddenly your family can continue enjoying the same standard of living they enjoy now. It can guarantee them a lump sum or a monthly income sufficient to assure peace of mind as a result.

It is a guarantee that the mortgage will be paid. It assures you that your children will continue attending the same school and will have the same friends they chose to have. They can still wear nice clothing. They can still go to the ball games even though you are not there.

If any one of them plays a musical instrument s/he can continue getting the music lessons that you had arranged. They can still continue having many a fun day. A good life insurance policy can guarantee all of this and more.

You have a child that plays great tennis. You plan on hiring a professional coach to help this child get to the big time later on. The best coaches cost big bucks. You can afford it but what if you die? Life insurance can guarantee that the cash will be there to pay for this coaching.

When the time comes to go for higher education sufficient insurance proceeds will provide funds for that too.

What of your spouse? Do you think she would like to continue living in the same home when you die and after the children are on their own? Will she want to change her car regularly? She has got to continue to get your kids to the activities they always enjoyed.

She likes to wear nice clothing too. She needs cash to do things that most men don’t even think about. This drop of ink on this piece of paper, a life insurance contract, can guarantee that she will always have the cash. Isn’t this life insurance a great thing?

The children will graduate high school and then enter college. This costs money. They will do just great even after your death because you looked ahead and planned their security. You bought sufficient coverage.

Your life insurance policy may just be a drop of ink on a piece of paper but it certainly is a lot more, wouldn’t you agree?

A Simple Document But What A Powerful One

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Have you ever considered that a life insurance policy is a simple document complicated by a lot of legal jargon? Yes, the legal jargon is designed to protect the policy owner and his or her heirs but it is also designed to protect the life insurance company. That being said, your life insurance policy is still a very powerful document. It is a simple document that does a real heavy duty job.



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Your life insurance policy makes putting you away at a time when your loved ones are grieving much easier. You will be remembered more fondly because you didn’t leave the weighty burial costs for them to shoulder. You didn’t leave the estate tax costs and attorney fees to come out of their pockets. They send you off in style and you would be very proud of your surviving family.

Your spouse knows about the effort you made to prepare for your untimely death and she loves you even more at this time for your thoughtfulness. Yes, your life insurance comes alive after your death…

Your policy is alive because it pays off that mortgage that was initially a strain on you but you knew you had to buy that home for your wife and children. You watched them enjoy that home and shared their joys but as you drift off you know they will live there for as long as they want because you bought that mortgage life insurance policy.

As the children got a little older your wife decided that she wanted to go back to work. You are so proud of her achievements. If she wants to continue with her career she can but if she should choose to stay at home she could because the proceeds of your life insurance can take care of the expenses. She can take care of the living expenses, she can pay for all the activities that the children enjoy. She can be there for that baseball or football game all because your insurance policy provided an income that your wife cannot outlive.

You own a business; a small corporation. Your life insurance agent advised you to have a legally prepared buy-sell agreement in case one of the shareholders should die. You happened to be the one that died. The surviving shareholders would be in big trouble had you not insisted on that agreement funded by life insurance policies. The proceeds of this particular policy would be used by the survivors to buy your shares from your wife. As you insisted on updating the policies each year the surviving shareholders get a solid company to continue on with and your spouse gets full value for your shares. In this case she doesn’t really need it so she decides to invest it and leave it for the children.

The surviving shareholders would have had another problem had you not insisted on some key man life insurance on your life as well as some on their lives. You were very aware that they would need someone to take on your work load. The money to pay this person would come from the proceeds of your key man life insurance policy. It would help them adjust to the new environment.

A life insurance policy is just a piece of paper mixed with a drop of ink but Oh How Powerful An Instrument It Is.



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