Local Insurance Expert Recommends Putting a Financial Safety Net in Place
Atlanta, August 29, 2012 - The sluggish economy continues to put financial strain on many of us. So it just makes sense to examine our budgets and look for ways to trim the fat from our monthly expenses and put more into
savings, if possible.
“That’s a great way to help stabilize your finances, but it’s also important that you have a financial safety net in place in case something were to happen to you,” says Roger Fishel General Manager with Mutual of Omaha in Atlanta, Ga. “Life insurance is one of the few guarantees your family could rely on to maintain their quality of life if you were no longer there to provide for them.”
There are 95 million adult Americans without life insurance, according to LIMRA, an insurance industry research group. “The fact is, the vast majority of Americans need life insurance and, sadly, most people either have none or not enough,” says Fishel. “If someone depends on you financially, you need life insurance. It’s that simple.”
September is Life Insurance Awareness Month, making it the perfect time to take stock of your life insurance needs. Fishel offers three additional reasons why now is the best time to look into getting life insurance.
You’ll never be younger than you are now. While that may sound obvious, youth is on your side when it comes to life insurance. It makes good financial sense to get coverage when you’re young and healthy, as premiums are
based on your age and health. For most policies, your premiums will be locked in at that rate over the life of the policy, and can’t be raised due to a change in your health status.
It’s affordable, with rates near historic lows. People overestimate the cost of life insurance by nearly three times, according to a recent study conducted by LIMRA and the LIFE Foundation, a nonprofit insurance education organization. In fact, life insurance rates remain near historic lows; the cost of basic term life insurance has fallen by nearly 50 percent over the past decade. For example, a healthy 30-year-old can buy a 20-year, $250,000 level-term policy for about $13 per month.
Life happens. One day life is going along smoothly, and the next, you’re thrown a curve ball. No one knows what the future holds. None of us expect to die prematurely, but the truth is roughly 600,000 people die each year in the prime of their lives. That’s why today is always the best day to take care of your life insurance needs.
“Life Insurance Awareness Month is the ideal time for a life insurance review,” says Fishel. “I urge everyone to take a few minutes out of their busy schedules this month to make sure they have adequate life insurance protection.”
According to Fishel, consumers can get a general sense of their life insurance needs by going to http://www.georgiado.com/products/#lifestyle
and using the online calculator offered by Mutual of Omaha. The next step, suggests Fishel, should be to contact a local insurance professional, who can conduct a more comprehensive needs analysis and help you find the right products to fit your specific needs and budget.
About Life Insurance Awareness Month
Held each September, Life Insurance Awareness Month is an industry-wide effort that is coordinated by the nonprofit LIFE Foundation. The campaign was created in response to growing concern about the large number of Americans who lack adequate life insurance protection. Roughly 95 million adult Americans have no life insurance, and most with coverage have less than most insurance experts recommend. For more information on life insurance, visit LIFE’s website at www.lifehappens.org.
About Roger Fishel
Attended the University of Maryland and is a resident of Georgia and active in the community. He is a member of The Georgian Club, Cobb Chamber, National Association of Insurance and Financial Advisors (NAIFA), The Society of Financial Services Professionals (FSP), GAMA International and the North Fulton Chamber.
He has received several industry awards as well as a four year qualifier for Mutual of Omaha’s highest honor the Field Management Award. He is also a two time qualifier for Mutual of Omaha’s top District Manager in the United States.
Currently he serves as the General Manager for the Mutual of Omaha Georgia Division Office and leads a highly experienced team of Financial Advisors to work with clients to develop strategies and recommend personalized solutions designed to help them accumulate, protect and transfer their wealth. He can be reached at (770) 925-5970 or at roger.fishel@mutualofomaha.com.
