The Seven Virtues of Life Insurance: #5 – Commitment
Life insurance is much more than a legal contract that provides an attractive financial benefit for your heirs. It is actually a tool that enables those beneficiaries to act virtuously.
All told, I see seven of this virtues. One is Commitment.
Many people like to think they are caring and considerate. However, a good test of this is to ask them what they would want to happen to their family and business when they die. Some of these folks do say, ‘Who cares? I will be dead.” After all these years selling life insurance, I am still surprised when I hear that. But, it take all types to make the world go round, doesn’t it?
And I can see the thinking. It’s a fair question to ask just how long your commitment to your family and business should last. Giving them all you have while you are alive, and only while you are alive, can go a long way.
But many people do feel “the show must go on” even after their demise. They want to insure that their good work keeps accumulating value long after they stop contributing. So they buy life insurance for their family and business successors. That gives them the biggest bang for the buck, and shows a truly deep level of commitment.