The role of Life Insurance in Tough Economc Times

It's an interesting thing that happens when the economic market goes down, sales of fixed and permanent life insurance seem to rise. Now I have no statistical proof of this, it's just based off what I have personally experienced. This is a great article from an advisor that seems to be doing a great job educating his clients.

clipped from carolinanewswire.com Raleigh Financial Adviser W. Landon Watts Believes Life Insurance is Crucial As job losses continue to mount—more than 72,000 in North Carolina between November 2007 and November 2008 according to the U.S. Bureau of Labor Statistics—people are facing increased debt and decreased value in assets such as homes, retirement plans and investment plans. This could lead to a large financial burden should the main income earner pass away. “The short-term savings that a family may gain by canceling a life insurance policy are nothing compared to the financial loss a family would incur if there was a premature death,” says Watts. “Also, the costs to purchase a new policy may increase significantly.” “Life insurance is often overlooked as the core of a solid financial plan,” says Watts. “Having a good policy in place will ensure that your family is protected financially, and it will provide them proper time to grieve and heal.”