Complete Your Job Promotion with Life Insurance
Life Insurance was the last thought on Stephen’s mind when he scored the promotion of a lifetime. Having felt stuck in a career that seemed to be going nowhere with little to no chance for advancement, he continued to work hard and provide for his family. He had enough life insurance through work and a personal term insurance policy to replace his current income for about 15 years if something were to happen to him and he passed away. Probably the only family left in America to own one automobile because they couldn’t afford two, Stephen’s family was that of a lower middle class with what appeared to be little hope for anything beyond the next paycheck.
Then it happened, a carrier opportunity with the same company opened up. Stephen applied immediately. He had the talent, the work ethic, the experience, and the proven track record to obtain this position, he was certain. A few weeks later, a request to see the corporate CEO in his office ASAP led to the final news he had been waiting for, “Congratulations on your new promotion, we are positive we made the right decision.” For many years prior this was the miracle he had hoped, prayed, and dreamed for.
As time went on, the excitement of the promotion began to wear off for him and his wife Susan. They were happy to now have a more expensive home, two classy automobiles and even the sail boat they often romanticized about. Their three children, the youngest only 3 years old, seemed to have everything they needed as well, and life, for the most part, couldn’t be more perfect. That’s right..., they were now the "perfect" family.
Two years or so later, tears rolled down the faces of family and friends at the tragic death of Stephen from advanced Stage IV colon cancer. He fought hard for over 6 months, but he simply couldn’t overcome it in the end. His personal loss was of tragic proportion to begin with, but when the reality struck that Stephen only had enough life insurance to cover about 7 years of his lost income, the pain in Susan’s heart was unbearable.
Faced with the option of paying off the mortgage but then having no money to live on, or getting a job to cover some of the expenses despite the fact she had been unemployed for over ten years, home schooling her children, but with nothing really to put on a resume, she was faced with a very precarious situation that no mother and children should ever have to be in.
This highly unfortunate circumstance could have easily been avoided if Stephen, immediately upon his new promotion and increase of income, had purchased more life insurance before he was diagnosed with a terminal condition that eventually resulted in his premature death.
If you or anyone you know has recently received a promotion or a substantial increase in pay for the same position, please do yourself and them the huge favor of making sure their life insurance coverage is at the appropriate level of protecting income for a certain amount of years. Don’t let this situation happen to others!
Solving this problem is only a click or two away. If you don’t need to do this for yourself, then do it for others. After all, what are friends for?
About the author: Kyle McDonald holds FIC, FICF, FSCP® & CLTC designations. His viewpoint on life insurance is simple, “Anyone with a family must have life insurance. In the end, life insurance is for others you care about, not you.” He is ready to help you and your family get the best option available. Contact Kyle today at 1-800-651-1953 or KMcDonald@Pivot.com.