Skip to content Skip to sidebar Skip to footer

This was the news in my life last week:  A family at my kids’ school had their two-year-old drown last Saturday.  Get this, on Tuesday the mother gave birth to their third kid.  Then, a friend of mine and single mother in her mid-50s died, leaving behind a teenage daughter.  Life happens.  Both are tragic, untimely deaths.

When a life insurance death benefit comes in handy

I sell quite a bit of life insurance, but rarely for death benefit purposes.  Which may sound strange to some of you because isn’t that what life insurance is for—when someone dies?  Well, yes.  I just happen to use other features of the product to create “life benefits” as well.

In presenting my “life benefit” plan to use life insurance, I often say, “and the death benefit just comes along for the ride.”  Ultimately, clients are paying for the death benefit even if that’s not their focus.  Sometimes it’s nice to have that passenger on bus.  Because when the unexpected or the untimely happens, the death benefit is nice to have.  It’s the difference between scrambling for donations from family and friends and knowing that you have money to take time off to grieve, to support your loved ones and business partners once you’re gone.

As many of you  know, I’m adamant about my clients getting their estate planning done.  It is a great act of love to make sure your affairs are handled and your family and friends know what your wishes are after your death.  I come from a long line of dead people, so trust me when I say that there is no worse combination on this place than death, family and money.  The second thing you need to do is get your life insurance in place early and often.  Get it when you’re young and healthy.  It’s one of those things that you’d rather have and not need than to need and not have.

For whatever it’s worth, I’m not a big fan of life insurance on kids, but if you can get a cheap rider on your own policy, it might be worth having.  I can’t imagine anything worse than the loss of a child.  Having time to take off work potentially without pay and grieve is huge.

Here’s what I do think is important:  Tell your family and friends when you’re alive how much you love them and what you respect and appreciate about them.  Record it, at least your voice, so they can hear it in the future.  Those of us left behind often forget the sound of our loved ones’ voices, and to have them for hard times is a beautiful gift.

Your partner for financial peace and clarity

Join Our Email List

By submitting this form, you are consenting to receive marketing emails from: Lanning Financial. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

admin [at]

By appointment only:
100 Pine Street, Suite 1250
San Francisco, CA 94111

Disclosure – Lanning Financial Inc. is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Lanning Financial Inc. and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Lanning Financial Inc. unless a client service agreement is in place. / Lanning Financial Inc. provides links for your convenience to websites produced by other providers or industry related material. Accessing websites through links directs you away from our website. Lanning Financial Inc. is not responsible for errors or omissions in the material on third party websites, and does not necessarily approve of or endorse the information provided. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites.

2024 © Lanning Financial Inc. 

Copy Protected by Chetan's WP-Copyprotect.