Loans for People with Disabilities

by Barry Bridges

Updated on 01.16.18

Consumer Advocacy

Summer’s finally here. The sun is out, it’s warm, the days are longer, and your worries seem just a little bit further away. But, folks, I’m sorry to say, sometimes storms roll in on the sunniest of days.

For more than a century Americans fulfilled their life insurance needs with a venerable but rather stodgy and plain vanilla protection product called whole life. It served everyone extremely well, however, it never ranked among the more exciting things people liked to talk about.

Life insurance plays a crucial role in securing the financial future of a family.  And, while the decision to buy a policy is an easy one, purchasing one can be vexing due to the overwhelming number of choices available.

The decision to buy life insurance is one of the most important a person can make in their financial lives, and buying a life insurance policy can be one of the more difficult things a person does. Why? Because life insurance is a complex financial instrument full of many different moving parts that people need to be able to understand.

The need for retirement planning didn’t really exist until well into the 1970s. Up to that point, people worked until age 65, spent a few years in leisure through their life expectancy which was about 69. Many retirees of that era were able to coast into retirement with a cushy pension plan.

Today’s retirees are finding that retirement requires at least as much psychological and emotional preparation as it does financial preparation. So, retirement planning needs to include a thorough assessment of human assets and liabilities along with an assessment of financial assets and liabilities.

With the long financial nightmare of the recession and financial crisis shrinking in the memories of those who endured it, Americans are, once again, setting their sights on a shorter retirement time horizon.

For most people, buying life insurance is difficult enough even when it’s done right.

The fundamental question of how much life insurance to buy can only be answered when we know what it is exactly we are protecting. While its purpose is to protect your life, only you can determine what that might be worth to your family. Your vision of a “good life” for you and your family doesn’t usually go away after you’re gone.