February 21, 2008

How much is your life worth?

Imagine driving home on the interstate today and you are hit by a large beer truck. Your car rolls over into the ditch and you are pronounced dead. How much would you want your loved one’s to sue for? One hundred thousand, a million, twenty million?? During the trial, a team of legal experts will fight for you to make sure that your family is protected or made “whole”. Although they can not replace the emotional loss, they will attempt to make sure that your family can stay in their home, pay there bills and educate your children. This is known as replacing your “Human Life Value”, (HLV)

To determine what your HLV is, the following factors will be considered. Your age, income, education, family status and most importantly – your ability to earn a living. If you are younger, well educated and on your way up the corporate ladder, your potential future earnings are considered. If you are in the prime of your life, the calculation is very similar. Odds are that you will receive a very large settlement. But wait…

If you are so valuable, the defense attorney will likely look at your assets and liabilities, the size of your estate and any other holdings that may possibly reduce your families award settlement. Then the multi-million dollar question will be asked. If Mr. or Mrs. Smith was so valuable to his family, church and loved one’s - why did he/she insure their life for $100,000, $250,000 or 1 million dollars?

Life insurance is not a dirty word. Life insurance is an act of love. Most people agree that they need more insurance coverage; however they are not willing to pay the price to adequately protect their loved ones. It’s time to “get real”, examine your priorities and plan for the inevitable.

One last comment – Today there are several different life insurance options available to you. If it’s important to protect your family or business, there are always affordable insurance solutions ranging from Term, Universal, Whole Life or any combination in between. For more information or to receive an instant life insurance rate comparison visit - QuoteBroker