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1021223-00006-00
Nate Obringer, RICP®
Financial Advisor
Prudential Advisors
9800B McKnight Road, Suite 223
Pittsburgh, PA 15237
Phone: 412-318-4129
Fax: 877-840-2322
Email: nate.obringer@prudential.com
September/October 2018
Five Truths about Life Insurance
September is Life Insurance Awareness Month, a time like any other when we can come up with several excuses to either not own life insurance or not own enough. Here’s to setting the record straight:
Excuse:
I have plenty of time to buy it.Truth:
Perhaps you do, but what if the unthinkable happens before you buy it? You aren’t immortal. Or what happens if you develop a medical condition that either makes you uninsurable or makes life insurance unaffordable?Excuse:
Life Insurance is too expensive.Truth:
The younger you are, the cheaper individual coverage is. You might also afford a term insurancepolicy, especially one that allows you to convert to permanent insurance down the line. And don’t forget about employer-sponsored life insurance, which is group coverage that is typically less expensive than if you bought it on your own. Group life insurance typically ends when you leave the job.
Excuse:
I have enough insurance through my employer.Truth:
Maybe not, unless you supplement that amount with individual life insurance coverage. You may wantenough insurance to cover three to seven years of lost income and living expenses, plus any extras such as replacing lost college savings.
Excuse:
I’m a stay-at-home spouse, so I don’t have income to replace.Truth:
When a stay-at-home spouse becomes widowed, childcare for young children may become a financial issue. If you don’t have young children, your spouse’s income still may not be adequate to pay others to perform the tasks you did, affecting the family’s standard of living. Life insurance can help fill this gap.Excuse:
I don’t want to buy something I don’t understand.Truth:
That’s a legitimate concern, but you have control over it. Ask questions. If you can’t get answers that are easy to understand, talk to a financial professional who can provide them.1001343-00001-00
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