Bite the Bullet

INSURABILITY

Ever been to Costco and said you were going to ‘grab it later’ although to realize later it wasn’t there – like I’ve done 100 times.

Enter: The World of Insurability.

Insurability, in Lisa terms, is an insurance company’s opinion of you, your health, lifestyle and family history at a certain point in time, typically when applying for insurance.

Here’s the thing. When applying for Individual Health, Critical Illness, Disability or Life Insurance you NEED to get it while you are healthy. It’s this crazy thing where insurance companies don’t want to take on your smoking, drinking, diabetic deep fried Oreo habits (all the things that make for a great, GREAT stampede week!)……I think it has something to do with their business model emphasizing profits.

I had a client call me yesterday. He told me he just had a stroke and in the next breath mentioned how glad he was to have purchased his life insurance last year (and I have hundreds of stories like this). It’s so important because you just don’t know what tomorrow brings, and you have the power to take simple planning steps today. The only thing any of my clients who have had living benefits claims say the same thing; they wished they had more insurance.

So, what do you do? Get your insurance while you are young and healthy and apply preferably before Stampede.

If you are uninsurable, there are policies available, however premiums are higher.

Find an insurance broker/agent/advisor who specializes in traditional underwriting (the kind where you have to take medical tests and have a nurse come over – preferable if you are in good health) or non-traditional underwriting (policies that only ask you healthy questions and base underwriting decisions instantly on your answers). The non-traditional insurance market offers insurance products for EVERYONE…although again higher premiums and smaller payouts, however most people don’t even know that’s an option AND most insurance brokers don’t either!

Lucky for you I specialize in both. I can answer any of your ‘boring’ insurance questions. Leave a comment below or email me. I slept with an insurance textbook under my pillow for 15 years.

You never know what tomorrow holds for you and your family. I still laugh when people say, ‘well my parents lived to 100 kicking and healthy’. If that’s the story that keeps you warm at night, then I wish you sweet dreams. Reality is this….

49. That is the AVERAGE age of all Critical Illness claims in Canada (yes, average meaning half younger and half older)

56. That is the AVERAGE age of widowhood in Canada (meaning your man should not be your retirement plan).

So, do yourself a solid and get a few million dollars of life insurance on good ol’ hubby, because that story will keep you warm at night. When God takes hubby he will leave behind a Golden Gucci Purse to cuddle with.

I poke fun, but bear with me and forgive my lame-lisa-humour; I sell life insurance for a living.

What I mean to say is this. You may not die tomorrow but your insurability might, so get the proper coverage today while you are healthy.

So why not bite the bullet, before it bites you (or your husband and secure your Golden Gucci today!)