Like many people, it may have been years since you last took out a life insurance policy. Most people buy life insurance when they first get married or start a family. They file the policy away with their important papers and usually don’t give it a second thought. But with the rise of inflation, it may be time to take another look at your policy.
You buy life insurance to keep your family financially secure. However inflation could silently be eroding much of that security and leaving your family with less protection than you intended.
Will Your Policy Stand the Test of Time?
The advantage of life insurance is that it pays a guaranteed lump sum of cash to your beneficiaries. But with inflation the purchasing power of those dollars has dropped. Life is more expensive now. If you bought a $500,000 policy back when you were 45, how much purchasing power does that policy have in today’s dollars? More importantly, how much will it have by the time your family needs it?
If you aren’t sure your policy can stand the test of time, you are not alone. According to a recent survey, 22% of those with life insurance policies feel they need more protection.*
Whether you are depending on your coverage to pay off your mortgage, provide a comfortable and secure retirement for your spouse, or provide ongoing care for a family member, the policy you bought years ago could come up short and leave your family vulnerable.
Securing the Future with Confidence
TMA Insurance Trust respects your many years serving the health needs of Texans. We want to give you and your family the protection you deserve. Hundreds of colleagues across Texas have turned to us to review their coverage. We would be happy to review your life insurance policy and compare it with the plans you have for your family’s future.
Securing life insurance later in life is different than buying it in your 30s. Our insurance advisors have decades of experience and can help you shop for policy options that best fit your needs and situation. Contact us today for a no-cost, no-obligation consultation.
For over 60 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry.