As year end approaches, various holidays have most people running around preparing for guests, buying gifts and doubling-down on the craziness already controlling most people’s lives. But this is also a time of year when thankfulness begins to pervade our consciousness. We find ourselves reflecting upon the people, opportunities and blessings that surround us. Of course, most people’s first thoughts focus on family. Then, we also find concerns uniquely important to us, from helping others to those serving our country and much more. Making sure that our family is always taken care of and that we can assist those who are disadvantaged or in need is an act of selflessness grounded in this spirit of thankfulness. Here are a couple ideas to consider:
Taking care of our family is virtually a universal truth for most people. By providing for them regardless of our capacity to work is an ultimate expression of our thankfulness and love. Did you know about 30% of Americans ages 35-65 will suffer a disability lasting at least 90 days during their working careers? What would happen to your family if you were suddenly injured and couldn’t work? Would your family be able to handle the burden of losing your’s or your spouse’s income stream? Individual disability insurance, typically more advantageous and worthwhile than employer-provided coverage, usually provides tax-free income to replace a sizable portion of your earned income. This can be used to cover fixed expenses, maintain your family’s lifestyle and even make sure that things like college tuition is still funded. A good individual disability policy could save you and your family a lot of worry if something were to happen.
While planning for your family’s protection, the proper amount of life insurance shouldn’t be overlooked. While 84% of consumers agree that most people need life insurance, 41% report not owning any. Another study by a major US life insurance company found that the difference between the amount of life insurance people actually own and the amount they said they needed to own was $320,000. So even when people have it, they often don’t have nearly enough. You wouldn’t insure your car for half of its value, so why would you not insure your greatest asset - you!
A Season of Giving
While we reflect on how thankful we are for being able to gather with family , share gifts, and put food on our tables, many people aren’t as fortunate. Here’s a shocking statistic; the United Nations Food and Agriculture Organization estimates that about 795 million people of the 7.3 billion people in the world, or one in nine, suffered from chronic undernourishment in 2014-2016. Thanksgiving is the perfect time to think about how you can help people in need. Stop by your local food shelter to donate canned goods, donate money to food banks, buy toys for underprivileged children, volunteer to deliver meals, or find local charities that serve your community. Researching charities though an organization like Charity Navigator is a good way to make sure the charities you work with are providing as much assistance to those in need as possible.
Make protecting your family during the holiday sane, sound and simple by talking to a Leap Professional. We hope everyone has a happy and healthy Thanksgiving.