Money Can't Buy You Love

As the old adage goes, money can't buy you love, but it can buy you time with the ones you love when you need it most. We all hope to have a long healthy life with plenty of time with family and friends. Sometimes however, life has different plans and a little planning can ease the financial burden at a time when the last thing you should be thinking about is money. Critical illness insurance is one option to account for the unforeseen future.

A long term client found themselves in this exact situation. While they were diligently working on their retirement plans, one of them was diagnosed with terminal brain cancer only to pass 37 days later.

Fortunately during the financial planning sessions, we discussed and included critical illness coverage to their suite of group and insurance options. This allowed the family to spend their limited time together as well as have the proper time to grieve the loss of a father and husband without worrying about finances.

Critical illness insurance pays a lump sum benefit if you are diagnosed with a dreaded disease such as multiple sclerosis, Alzheimer's, cancer or Parkinson's disease. Other conditions covered may include coma, stroke, heart attack, and kidney failure. Benefits are paid for the first occurrence and may be used to pay medical expenses, modify your home or even take a vacation.

There are many versions of critical illness insurance available and different insurance carriers offer different coverage. Be sure not to let premiums be your guide when choosing the right coverage for you and your family. Speaking with a financial planner can help you navigate the tricky waters of ensuring your future needs are met based on your family history and future goals.

Due to the aforementioned situation, the children of this couple have now been meeting with their financial planner on a regular basis to develop their own financial plans and to ensure that their inheritance and financial affairs are well looked after. Firsthand experience has shown them a little planning goes a long way.









0 comments

  • How to Replace a Transfer Case in a Jeep Cherokee The Jeep Cherokee transfer case is an essential part of the wheel drive system. The transfer case is separate from the transmission and can be easily removed for service or replacement. Here is how I did it last time I replaced one. I began by…
  • Will Python Replace Java? According to the most recent study, Java is currently more popular than other programming languages ​​including Python. Likewise, according to the latest usage statistics posted on a popular Technology Survey site, Java is being used by 3.0%…
  • Nokia N95 - Enjoy Digital and Music Experience Nokia has introduced a number of 3G mobile phones in its Nokia N series portfolio. These phones are enriched with unparallel multimedia applications and productivity tools. Recently, Nokia has introduced a new phone in the N series portfolio,…
  • Motorcycle Safety Myths Whether you are a new rider or you have been riding for many years, you may have heard - or may even believe - some of the much-circulated motorcycle safety myths. If you take actions based on those myths, some of them could get you injured or…
  • How to Pray and Receive a New Car - Within 4 Weeks!Last month, one of my readers needed a new car. He asked the LORD for it. And the Lord answered and showed him this beautiful, new SUV.Only problem was: he had no money to buy it.He asked me if I had prayer points to release the car.I gave him my…