The Risk of Not Having a Life Insurance Plan

Bill Schantz is a New Jersey top insurance professional. He owns and manages multiple insurance and financial institutions that originate assets for notable organizations. One of Bill Schantz’s companies, Senior Settlements, LLC, was the first to introduce life settlements to the capital market.

Besides providing for a loved one in the event of death, there are other benefits of a life insurance plan. However, some people are skeptical about owning a life policy, probably due to misconceptions. The truth is that it’s risky not to own a life plan right now, due to its long-term saving ability.

Not everyone has a backup to settle sudden or significant expenses. For instance, a business opportunity for investment purposes or even a medical emergency may arise. In such cases, a life insurance settlement might be able to provide policyholders with quick cash.

Likewise, post-retirement life might have its challenges. Many senior citizens depend on their adult children for financial help. However, anyone who buys a life insurance policy today might be able to sell it after retirement, to take care of their needs. Therefore, the benefits of a life policy make it very risky not to own one.