Estate Strategies: Critical Elements of an Estate Plan

No one really wants to think about life insurance. But if someone depends on you financially, it’s a topic you shouldn’t avoid. Are any of these reasons stopping you from getting the life insurance coverage you need? If so, read on!

1. My family can rely on loans or other family members.

We know we can rely on our families for support as we navigate life. However, if you were to die, your family’s world would shift on its axis—emotionally and financially. A time of grief is not the time to crowdsource funeral funds or make phone calls for money every month when bills come due. Life insurance means there can be an affordable solution in place so that doesn’t need to happen.

2. Money is tight. I just can’t afford life insurance.

Bills, rent or mortgage, car payments, childcare, food, gas … and the list grows as your family does. So what would happen to them financially if you died? If you’re gone, so is your income, but their bills and expenses will stay the same. If money is tight, you can’t afford not to have life insurance. It picks up the financial burden for your family when you are no longer there to do it.

3. Life insurance will be a free ride for my kids.

Your parents taught you hard work, and it’s what you’re teaching your children. But life insurance isn’t about leaving your kids a financial windfall. It’s about practicing—and teaching—the principles of personal financial responsibility. Preparing for the future with life insurance is a lesson in goal-setting, budgeting and discipline that ensures your loved ones will be OK financially, which is a valuable lesson to pass on.

Don’t let these myths stand in the way of getting life insurance—or more of it.

Scammers are pretending to be bank customer service representatives reaching out regarding fraud prevention. Their goal is to get you to reset your login credentials and gain access to your account.

How it works

1. Scammers, posing as customer service representatives, will call and keep the victim on the phone for multiple hours to “resolve” a fraud issue.
2. The scammer urges quick action to prevent alleged hackers from draining the victim’s account.
3. The victim is asked for sensitive information like login credentials and verification answers.
4. The scammer logs in to the victim’s account to initiate unauthorized payments, bypassing security restrictions via a direct call to the real Fraud Support, all while the true customer is on hold.

Quick Tips

• Check your account activity frequently and monitor for suspicious transactions.
• When asked for information that seems unusual, hang up and call the phone number on the back of your bank card or account statement.
• Read text and email communications fully and pause before responding.
• Remember that banks and credit card companies will never ask you for your password or your card/account number over the phone.