The Blissful Addition of a New Baby
By Sy Alter, Chartered Life Underwriter
© 2006
A Baby Means Added Financial Responsibilities
You’ve been waiting for years to start a family and the thought of bringing a new life into the world is a very exciting consideration, and for most parents, truly a journey of joy. But having this precious little bundle in your care means a host of new responsibilities and lots of important things to take into account.
Provide Financial Security for your Spouse and Your New Baby
In addition to preparing for the newborn and buying everything a new baby needs, now is the time to think about buying life insurance for yourself and your spouse. The reason? Even though your plan is to live a very long life, watching over your children until they are grown, and attending to their every need, have you considered what might happen if you passed on unexpectedly? Uncomfortable as that may be to think about, would your spouse be able to handle all the financial burdens? Because of the added financial responsibilities that come with a new baby, preparing for the future by making sure your family is safe, protected and financially secure is not simply important but is a necessary component of life.
Secure Your Children’s Future
Your children are your greatest responsibility and life insurance can help secure their future should something unforeseen happen to you. Therefore it’s important to have adequate insurance coverage so the surviving parent won’t have to worry about financial debts or obligations. Having a life insurance policy means helping to cover the expenses of your family’s standard of living and takes the financial pressure off of the remaining parent.
Protecting Your Family
Consider the fact that there are always financial matters to deal with regardless of your circumstances, but to potentially leave behind major financial burdens without planning to cover the expenses, puts a tremendous weight on the family. As a good parent, your family deserves and needs your protection, especially at the birth of a new baby. Whether you are the sole wage earner or even if you and your partner share expenses, insurance can adequately cover the income that might be lost in the event of the death of one parent. Remember, passing away doesn’t release you of financial responsibility; it simply leaves the burden in the surviving family member’s hands. You can protect your survivors from this dilemma in the future with the purchase of life insurance now.
About the Author:
Mr. Sy Alter is a Chartered Life Underwriter and a veteran insurance professional with more than three decades of experience in the life insurance arena. Mr. Alter specializes in areas of insurance, estate planning, buying and selling insurance, deferred compensation and corporate benefits. He maintains a solid track record of success working closely with families, doctors, lawyers and high profile individuals and businesses. Mr. Alter has also developed a lofty level of expertise providing life coverage to individuals with health impairments ranging from by-pass surgery, hepatitis, diabetes, sleep apnea as well as various types of cancers and other maladies. Mr. Alter has been guest speaker at the Financial Executives Institute as well as many other professional meetings and conferences. As Chairman of Spectrum Direct, he is available for consultations and speaking engagements and can be contacted by e-mail at salter@spectrumdirect.com or by phone at 949.600.7901.
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