Are you ready financially?

Fifty percent of the US population represents only 2.7% of all health spending, while 5% accounts for 49.5% of all expenses health, according to the Kaiser Family Foundation.

The life expectancy at birth of an average American was 62.9 years in 1940, five years after Social Security was created. Life expectancy is now 78.7 years (source: Center for Disease Control). As a result of this increased life expectancy will require $ 293,000 to pay for health care after retirement which is not paid by health insurance, according to Kaiser. Are you financially ready for this?

Are you financially prepared to raise your children? A child born in 2012 will cost a higher income families (those making at least $ 105,000 of income before taxes) $ 399.780 in 2012 dollars (in the amount of current value) and $ 501,250 dollars inflation adjusted 17, and that's not including college (source: Ministry of Agriculture). How it will be paid if you were to die or become disabled today?

Will you rely on your family business? Only 30% of family businesses survive to the second generation, 12% in the third and only 3% in the fourth and beyond. Many times this is due to a lack of planning and lack of liquidity. You can provide planning. Life insurance can provide money.

A crisis of underinsurance
According to Statistics LIMRA in 2012, men and women are less likely to own life insurance today than they were in 04, and the likelihood of being without life insurance has dramatically increased for every age group since that time.
• Only 61% of men and 57% of women have some sort of life insurance half as much coverage in 04.
• The likelihood of having husbands life insurance decreased in all levels of low-income, middle and at ease, since 04.
• women of all ages on average smaller amounts of individual life insurance than men of the same age.
• On average, women have $ 129,800 of individual life, while men have $ 187,100 of individual life insurance coverage.

Now is always the best time to take personal accountability to determine whether life insurance should be part of your planning and how much is appropriate. Whether you choose to search online or pick up the phone to call your agent or advisor, the time has come to take action. Do it today!