“Have to Buy” versus “Want to Buy”

Nobody wants to buy insurance. But it’s a have-to-buy item.

If you’re like most people, it’s not that you don’t understand the value of life insurance. In fact, many people believe they need more coverage. You probably wouldn’t mind having more life insurance. It’s just that you don’t want to buy it.
Thinking about buying life insurance, talking about buying life insurance, discussing the reasons for buying life insurance – all of this makes many people feel uncomfortable.

“I Don’t Have The Time Right Now.”

You’ll eventually get around to buying life insurance, but not today. With all the things you’ve got to do, buying life insurance can come off as a low priority – just one more thing you ought to do. Plus, the whole idea of discussing life insurance isn’t a whole lot of fun. Who wouldn’t rather attend a ball game, take the dog for a walk, or spend those precious few hours of free time in the evening with family and friends?

Nonetheless, buying life insurance is really an important task that should be addressed now, rather than later. Especially considering your line of work as a peace officer. Life insurance can help to ensure that your family will have enough money to meet their financial obligations in the event of your death.

The Subject Is Uncomfortable

No one really likes to think about death. Death is an unpleasant subject, and life insurance raises issues of our own mortality. Some people say that the very thought of starting the life insurance buying process makes them feel stressed out. It’s a subject we’d rather ignore than address.

It doesn’t have to be that way. People who act on the need tend to focus on the positive aspects: the idea of meeting their responsibilities to provide for, and care for, their loved ones. They think of it as contingency planning, protecting their family against the uncertainties of life. They also recognize that life insurance is really about life and love, about helping to ensure a positive quality of life for their spouse and children if they die prematurely.

The Bottom Line

It’s easy to understand why people tend to put off purchasing life insurance they know they need. But look at it this way: buying life insurance is one way you can help secure your family’s financial future. And what could be better than knowing your loved ones will be protected, even if you’re no longer around to take care of them?

The Insurance and Benefits Trust of PORAC’s Group Life Insurance Program is provided to assist you in financially protecting your loved ones. It also affords you the peace of mind of knowing that should something happen to you; they will be taken care of financially. The Life Insurance Program provides many different options including both the 10- and 20-Year Group Level Term (GLT) plans. These plans are offered at very competitive rates. For example: Under the 10-Year Group Level Term Plan, a Member, age 35 and a non-tobacco user may obtain $500,000 of life insurance coverage for $23.00 per month. For more information and assistance, please contact our Plan Administrator, Myers-Stevens & Toohey (CA License #0425842) at (800) 827-4695.

Featured in the November 2022 issue of PORAC Law Enforcement News.