A few weeks ago, Balanced Care received a call from a potential client looking desperately for Life Insurance for her husband. Because of being in the business for several years, I know that frantic call enough to know that something has gone wrong and it might be too late. Unfortunately, I was right. This client’s husband just received a diagnosis of Stage 4 Lung Cancer and wanted to know if he could get Life Insurance. He couldn’t. His wife shared with me a policy they did have and unfortunately, again, it wasn’t going to help. Twenty years earlier, they had purchased an Accidental Life Insurance policy. These types of policies are only going to pay out if the policyholder dies in some type of accident. My heart literally broke as tears streamed down her face. Her husband was in the middle of a chemo treatment, he was depressed, was giving up, and now she was faced with the reality that they didn’t have insurance to help the family should he pass away. She was also concerned about starting to plan for a funeral and worried about the costs.
She had seen a commercial on television that talked about Final Expense Plans without any medical underwriting. She had called them only to find out that he wouldn’t qualify and needed my assistance. Unfortunately, again, he may have been accepted, however, if he was to die within a three year time period, his family would only receive his premiums that he paid for the plan and nothing else. With this said, it wasn’t advantageous to take out this type of plan.
In this case, they felt like so many people do that Life Insurance was an unnecessary expense. They felt that they would get Life Insurance later and that an Accidental Life Insurance plan was inexpensive enough and would at least give them some protection. They felt like this until now. Now, they are left with a policy that they have paid on for twenty years and there’s a very good chance it will never be used. In other words, the money that they used on that plan could have been used on a Life Insurance plan that would have provided protection. Although they felt they at least had something and it was better than nothing, it still wasn’t going to help when they needed help the most.
At Balanced Care, we believe in telling you the truth. The truth is that some type of insurance plans aren’t going to give you the type of protection that is best for you. The truth is that cheaper will not always be better. The truth is that if you decide to get a certain benefit amount that is below what you really need, we will tell you. The truth is we would much rather you be upset with us now rather than later when we are delivering a benefit amount that is much less than you should have or worse yet, not be able to deliver anything at all. The truth is that by waiting rather than doing things now, it may be too late.
Terri Trepanier is the Owner of Balanced Care and a licensed insurance broker in New Hampshire and Maine. Located in Rochester, NH, she specializes in helping individuals and businesses with their Health Insurance, Dental Insurance, Life Insurance, Disability Insurance, Long Term Care Insurance, Medicare Supplemental, Medicare Prescription Drug Plans, Accident, Critical Illness, and Cancer Plans. Terri knows the importance of insurance products and how they help individuals and families. She continually strives to give her clients the Peace Of Mind that each of us deserves.
Balanced Care – Providing Balance, Security, and Peace Of Mind