Randy Roberts | Health and Life Insurance Agent | Allentown, PA 18109

Worst Case Scenarios

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What are the worst case scenarios that you could think of for yourself. I’ll give you a moment. Do you know what your biggest asset is? Many people think it is their house, their car, their boat or their investments. Let me challenge you on your perspective.  Or the way you are looking at things. Your biggest and most valuable asset is your ability to earn an income. Warning I’m going to scare you a little. Answer the following questions in your head. How many months would it be before you ran out of money, if you physically could not work?  Do you know what the average amount of Social Security Disability check is? I see far too often people who get sick or hurt and become unable to work anymore. They have to jump through hoops to get help from Social Security and may not even meet the requirements to get it. 

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Even if they do get the help it is at a fraction of what they were earning. This in itself can be considered a life altering event. Who can live on a ¼ of their income? Not the majority of people in this country. Let’s continue down this funnel of fear, how long would it be till your dreams started to fade away?  Your ability to earn a living is the only asset you have to provide a future. Are you willing to let it go unprotected? This is not a gamble anyone in their right mind should/would want to take.

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This is my attempt to touch on as many worst case scenarios so that I drive home these points and employ a slight amount of mental torture to nudge you into taking action. Imagine you were suddenly are diagnosed with some type of cancer or another critical illness? Do you have the short term covered with some supplemental protection? Again how soon would it be before you had to look for a new place to live? On the worst day of your life do you want to worry about the bills or do you want to put your efforts into recovery?  There are plenty of things you can do to protect your family when these events occur. No one wants to thinks about these things. If you knew what day you were going to get sick, you would you do something about it now. Remember, these illnesses do not discriminate against age, race, color or religion. We all want to think we are immune, but reality says we are not. Health insurance only covers the doctors and the hospitals. So my question to you is who is protecting you? 

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It’s time for the last morbid scenario…God forbid you do not come home. How long will it be till your spouse and kids have to sell the family home? How long will the other assets last? Will the kids have to change their plans and dreams for college? Again if you knew what day you were going to die, you would ensure protections are there for them. There is significant cost t planning a funeral or a cremation. We are talking somewhere on average between $10,000-$30,000. After your savings is blown through on that, how much is remaining for the monthly bills to be paid? If you love your family, you will protect them when you are gone (i.e. leaving money behind).

You were warned in big bold letters about the purpose of this week’s article.  Hopefully this blog post served as food for thought and allows you to look at things from a different perspective. How will you protect you and your ability to provide for your family? How will you protect and preserve your assets on during the time of illness? How will you preserve your dreams if you don’t come home? There are plenty of insurance options available to you whether this be Life Insurance, Disability Insurance, Burial Insurance, Medicare. At the Randy Roberts Insurance Agency, we can help you acquire all of the right insurances for you in the event of these worst case scenarios happen to you. 

Thanks for reading. Leave a comment below if you’ve thought of the any of the above and if you need insurance today.

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