September is a busy time of year for everyone. The kids are back in school, the office gets back to normal following summer vacations, the lawn still beckons to be mowed, and the usual household chores and errands pile up. It’s also Life Insurance Awareness Month.
With our current economy, many families are just trying to make mortgage payments, cover household bills and get through the month. Life insurance may not be on the radar, but it should be. What if something happened and you leave your loved ones behind to pick up the pieces? Aside from the emotional strain, your family could be forced to struggle financially because of the loss of your income.
If you thought about what types of insurance you have, we could probably only think about the most common ones. We all think about health, life, homeowner’s, auto, motorcycles, collectibles and boat coverage. Most of us don’t know it, but you can get insurance on just about anything for a premium.
Have you ever thought about celebrities? They’re insuring body parts. Yes, insurance companies offer policies that pay if something damages the appearance or functionality of a body part. I think we would all have to seriously ask if insuring a body part was worth it. For most of us, the answer is undoubtedly no. But if you’re Peyton Manning, maybe he would think it was worth it to have an insurance policy on his right arm. Celebrities have also been known to insure their voices. Wonder what the cost to insure would be?
Ten years ago, you didn’t expect to turn on the television and see insurance companies battling it out for commercial time in between your favorite shows. You also didn’t see them as some of the biggest sponsors of the sporting event of the year, the Super Bowl.
Times have changed though—and some of the big insurance companies out there are spending millions of dollars each year to tell you that you can save 15% in 15 minutes.
Their focus is price-driven and I understand why. Customers want to save money. You want to save money. I want to save money too. But I don’t agree with the fact that they simplify insurance as if it’s a commodity like gasoline.