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One of the largest issues plaguing the life insurance industry today is quite simple: marketing. How do you market a product revolving around the one thing, well maybe not the one thing, but a thing, that no one wants to think about, death? Well, a recent commercial from New York Life attempts to do so by focusing on the good moments of life. Honestly, even the very name, life insurance, attempts to get people to try and associate the product with, well, life.

Yet, this mass hypocrisy of associating life insurance with life, when in reality it focuses on death, only exasperates the issue. It spreads misinformation and further perpetuates unfortunate stereotypes that unfortunately continue to falsely shape people’s perceptions of a vital product. Personally, I believe the marketing campaigns should revolve around the future. Not the past. Not the present. The future. The whole point of insurance is to preserve the future. Maybe not the future of the one who is insured, but certainly to preserve the future of those who depend on the one who is insured. How else is a single partner expected to make ends meet?

In the tragic event that one partner passes too soon, the other partner is forced to face seemingly insurmountable obstacles like funeral costs, potential college tuition, mortgage payments, bank loans, potential leftover medical bills,…the list goes on and on. Insurance should be focused on the fact that these are the exact issues it solves. Very rarely are we able to predict the future, but at least with insurance we can ensure one tragedy does not become a snowball of chaos and financial ruin.

Interestingly enough, a resounding 69% of Millennials are either “actively disengaged or indifferent” about life insurance. Were Millennials to truly understand the purpose of life insurance in regards to preserving the future, I sincerely think that they would show a greater interest. While, of course, the main argument to this is that young and healthy adults with no dependents do not need insurance, I do believe they don’t fully recognize the supplementary benefits also associated with life insurance. Take the fact that you can take out a whole life policy for instance. You can continue to pay into it as an investment, and in time, it can become a significant part of your net worth.

Or take for example the fact that you can borrow against your whole life policy. Although ironic, paying money into a policy can actually help you pay for other things later on. Or just take for example the medical discounts life insurance can facilitate. Even if you don’t necessarily pass from an illness, the policy can still aid you in paying the current medical bills. Speak to your local insurance professional or reach out to me through my contact page should you have any questions regarding this specific caveat in insurance plans.

Ultimately, I think life insurance is just misunderstood, and to characterize it as something it’s not is not going to fix the issue, or any issues for that matter. Life insurance is not for now. It’s for the future. It’s for the future in case you get sick, or in case you need some help in footing medical bills, or in case your dependents are facing a scenario in which they may have to inhabit a world without you. Frankly, it’s a bit irresponsible to not have an insurance plan, and all who understand the inner workings of the insurance industry understand that simple fact. Yet, rampant rates of uninsured individuals continue to soar high and above what should be the norm. Join me in spreading the right message. Join me in preserving the future.