The Lunsford Agency 69 West Second Street, Chillicothe, OH 45601

Your most valuable asset?

When I ask this question the answers are usually the following:  my home, my 401K, my car, or my pension account. Those are all incorrect! Your most valuable asset by far is your ability to earn money.  As long as you are working and earning a living you could replace anything that was lost. It might not be easy, and it could take years but you could do it.

Think about it this way…Assume you make $40,000 a year at age 40. If you work to age 67 then your earnings are over $1,000,000. You would get better at your job and receive a raise from time to time. Your income would continue to climb and at 67 you would have earned well past $1,000,000 in those 27 years! What is the biggest concern to your spouse and children as far as the lifestyle your income provides? Could a premature death remove your loved ones from the home they live in? Could death have a big impact on their standard of living? You bet?

Are your house, health, and cars insured? You may never need any of those policies. I hope you don’t. One policy I guarantee you will need is life insurance.  It is difficult enough getting by on two incomes. How will your surviving spouse get by on just one? Life insurance is necessary to have in place so your family can carry on financially without you.

Are you properly insured? The general rule of thumb is to have enough life insurance to eliminate all of your debt and replace about 3 years of your income. Life insurance rates are less than most people think, and you will have the peace of mind knowing your family will be able to continue living the lifestyle you created if you die prematurely. Call today to review your situation and receive the rates on the coverage you need.

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