Solving The Problem

The Problem

In my recent blog posts I mentioned there is a problem in how people are in denial of their mortality. By saying this, people do not feel the need to protect their assets or their hard earned money. This is a growing problem for the gigantic growing population of retired baby boomers and the big amount of millennials finally entering the work force. Both have the same problem but at different times in their life. At any moment, even 50 years apart, either one of these class of people can have something as tragic as death happen to them and everything they worked for in their lifetime is dropped into the abyss, as if they never did anything. 

The Solution

I have though of offering a service of life insurance that is affordable for every age and truly aims to help people other than offer a commission to the agents selling it. One of these examples would be for low-middle income household with a married party with children. One of the questions for their customized plan would be to ask both working parents how much they would need for the rest of their life to live as if, if anything happened to either one. This is how my service would impact their life completely and change their view of life insurance completely. 

However, if the plan was for a millennial, the idea in their head would be they had a 401k and a social security to get them by if anything happened or if they had a loved one to help. The fact of the matter is that even with social security, which is dying out with these huge amount of baby boomers retiring 10000 a day, and with their 401k if anything tragically happened to their health they would not be able to afford it. Now the burden falls on their parents and the people who worked all their life to protect their future have to focus on their child they have already voted 18 years of their life to. Understandably, millennials are already struggling to pay normal bills, but with the proper prioritization in what they need and planning for their future, they will be able to prevent tragedy fiscally and emotionally not as bad. 

The life insurance policy is not to offer whole life, ammunizations and boring old policies that people have negative connotations, but to be the broker and provider of customized insurance for everyone. Because in reality, everyone needs it.