Tag Archives: life insurance

Breaking Bad, Walt and Income Protection,aka Insurance

I like watching Breaking Bad.  I was on to this program from the beginning, when  critics just promised something good and it hadn’t gained such widespread fame.

If you don’t know much about the TV show Breaking Bad, you can just google it.  At the core it is a complicated, gritty, sad, happy, and intense story of how one man, Walter White, decided to make a change in his life so he could provide financially for his family because he had been diagnosed with cancer.  His choices were drastic and the impact, both negative and positive, significant

Whey am I blogging about this?  Well, it has to do with money, goals, dreams, and choices.

I understand the value of insurance for a variety of purposes, including life insurance which creates an instant estate to provide for those left behind.  Of course buying life insurance requires some awareness of the value of purchasing it, and must be done while someone is healthy enough to qualify.  Life insurance companies wouldn’t stay in business if they took on someone like Walt after he had been diagnosed.

I have met with many clients over the year and helped them make life insurance purchase decisions and then placed them in an appropriate product.  It sounds pretty boring when explained this way, so I was simply inspired by an article I read in a professional website.  It draws a parallel between Walter White (a TV character of course, not a real person), his late life career choice, and how different things could have been with some insurance planning and purchase.

Please click here to learn more. A great way of tying things together and the Breaking Bad franchise presents the last episode this evening.

Enjoy!

Until Next Time

Debra Hadsall

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Begin with the End in Mind-Life Insurance

I have listened to many people talk about their personal finances over the last 15 years. From that I learned a lot  about the emotions involved in financial management.

Emotions can often stand in the way of getting things accomplished.  They can also be a major reason a person takes responsiblity and action. I have seen how emotions can be useful or hurtful.

The emotions attached to discussions about life insurance and end-of-life documents  (such as wills, durable power of attorneys, living wills, etc.) are, for some people, very strong and paralyzing.  I always tell anyone who will listen that these are things we do for those we leave behind.  If we are gone and haven’t taken care of these things, we can’t reach from the grave and fix them.

If we don’t plan well for retirement, if we don’t manage our debt appropriately, if we don’t budget successfully, we  personally suffer.  That is our choice or decision and we will have to deal with it.  Putting our survivors in a financially difficult or legally unclear position  is unfair to them. They may suffer  and be forced into dealing with legal or financial matters over which they had no say or control.  Difficult things to deal with during a time of loss.

Life insurance is a product which is sold, not bought.  That is what I was taught when I first started selling life insurance.  I didn’t really “get it” until I started meeting with potential clients.  It became quite clear that hardly anyone calls up and asks to buy life insurance.  Once again, all those emotions tied to death, insurance and money.  Add to that, the confusion about how life insurance works and fears of some unsavory past practices of some in the industry.  Now,  not everyone needs life insurance, but I believe everyone needs to go through the analytical process of determining if she or he needs it.

In my book, Financial Freedom Party for Women, A Little Book about Money for Women, I talk about life insurance and have included a quote which seems to give a valuable perspective on the value of life insurance.  This may be more meaningful to you than a long lecture about insurance.

A life insurance policy is just a time-yellowed piece of paper with columns of figures and legal phrases, until it is baptized with a loved one’s tears. Then it becomes a modern miracle – Aladdin’s Lamp. It is food, clothing, shelter, and undying affection. It is the sincerest love-letter ever written.

It quiets the crying of a hungry baby in the night. It eases the aching heart of the one who remains behind – a comforting whisper, in the dark and silent hours. It is a new hope, fresh courage and strength to pick up broken threads and carry on. It is a college education for the son or daughter – a chance for a career instead of a need of a job. It is a parent’s blessing to a daughter on her wedding day.

Author Unknown

Until next time

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