Money Can’t Buy You Love
As the old adage goes, money can’t buy you love, but it can buy you time with the ones you love when you need it most. We all hope to have a long healthy life with plenty of time with family and friends. Sometimes however, life has different plans and a little planning can ease the financial burden at a time when the last thing you should be thinking about is money. basic illness insurance is one option to explain the unforeseen future.
A long term client found themselves in this exact situation. While they were diligently working on their retirement plans, one of them was diagnosed with terminal brain cancer only to pass 37 days later.
Fortunately during the financial planning sessions, we discussed and included basic illness coverage to their suite of group and insurance options. This allowed the family to use their limited time together in addition as have the proper time to grieve the loss of a father and husband without worrying about finances.
basic illness insurance pays a lump sum assistance if you are diagnosed with a dreaded disease such as multiple sclerosis, Alzheimer’s, cancer or Parkinson’s disease. Other conditions covered may include coma, stroke, heart attack, and kidney failure. Benefits are paid for the first occurrence and may be used to pay medical expenses, modify your home or already take a vacation.
There are many versions of basic illness insurance obtainable and different insurance carriers offer different coverage. Be sure not to let premiums be your guide when choosing the right coverage for you and your family. Speaking with a financial planner can help you navigate the tricky waters of ensuring your future needs are met based on your family history and future goals.
Due to the aforementioned situation, the children of this associate have now been meeting with their financial planner on a regular basis to develop their own financial plans and to ensure that their inheritance and financial affairs are well looked after. Firsthand experience has shown them a little planning goes a long way.