The Savage Truth on Money, 2nd Edition

CHAPTER 8

THE SAVAGE TRUTH ON LIFE INSURANCE . . . AND MORE

Don’t Wait Until It’s Too Late

What’s your life worth? Can you measure in terms of dollars and cents what the impact would be on your family and loved ones if you suddenly lost your life? Yes, you are priceless to those who love you. But if there would be financial consequences to those loved ones, you must consider life insurance.

And then think of the financial burden if you were disabled, or were diagnosed with a life-threatening disease or condition. No one wants to think about that—especially in monetary terms. But the bills will keep coming, adding even more stress to your situation.

It’s understandable that you don’t want to think about these terrible possibilities. Insurance on your life is a bet you won’t be around to collect! But it can protect those for whom you care, and for whom you have a responsibility to provide. And a cash payment if you are unable to work or face a medical challenge would certainly be welcomed.

So here’s a brief look at insurance basics. If you skip this chapter and these products, you’re tempting fate. And that’s the Savage Truth.

Life Insurance: A Bet Against the Odds

Life insurance is an intimidating topic, perhaps because for many years insurance salespeople convinced us that the subject was so complicated we needed their help to buy a policy. These days it’s easy and relatively inexpensive to buy simple insurance policies via the Internet. Websites like AccuQuote.com, SelectQuote.com ...