A Life Insurance Love Letter

by Jack Dewald, CLU, RHU, President, Agency Services, Inc. Memphis TN

                                              Chair of the LIFE Foundation Board of Directors

I have the honor of serving as the 2010 Chairman of the Life and Health Insurance Foundation for Education (LIFE). LIFE is a national, nonprofit organization dedicated to educating American consumers on the importance of life insurance as part of a sound financial plan.  LIFE’s “Insure Your Love” annual campaign affirms that most people buy life insurance to protect someone they love.  Life insurance helps protect a family’s way of life and replaces lost income for families.

Earlier this year, I found a yellowing letter my wife and I had written in 1989 to our son, J.P.  He was only 4 months old when we wrote the letter, and now J.P. attends the University of Memphis. Re-reading it 20 years later, I realized again – we were telling J.P. just how much we loved him and how the purchase of life insurance for him, was in fact, a “love letter.”  

As you read the letter to our son, you’ll see that my wife and I bought insurance for our son because we love him. Read the letter below, and see if you agree.

Dear J.P., 

Today is November 21, 1989. Possibly, you’re wondering what the date has to do with writing you this letter. 

While you are only four months old now, I hope that this is a date you will remember, because today we purchased a life insurance policy for you.

J.P., the difference between financial success and failure is often determined by whether or not a person can discipline themselves in a consistent and conservative financial strategy. Life insurance is ideal in this respect because it has withstood the test of time both for family security and savings … it’s the greatest savings plan in the world because IT WORKS!

It may be that you will have to call upon the cash value of this policy many times during your lifetime and, at such time, we hope you will remember that we started this for your benefit.

This policy carries with it two features of particular significance. The first is an automatic purchase option, which will allow us to increase your coverage as you attain certain ages. The other feature is  called disability waiver of premium. This means that in the event you should ever become disabled, your financial plan will be self-completing for you and your family.

This policy is a special gift of love and affection from both your mother and I … and we suspect that it will be remembered long after all other gifts are forgotten.

May God’s blessings be with you always.

Love always,

Dad and Mom 

Were you thinking of someone you love as you read the letter? Have you considered your family’s future in the event of your death? I hope the love letter to our son will prompt you to evaluate your financial plan and consider how life insurance can protect your family financially.  Call your agent today or log on to www.lifehappens.org .