True Story
I have been working as an insurance agent since 2003. One day, a friend of mine called to tell me that one of his friends was immigrating to Canada. He asked if I could come with him to pick him up at the airport because he needed a bigger car to accommodate everything. I am always pleased to be helpful to someone in need.
As I went to pick up my new immigrant friend, it never crossed my mind that he would leave this world in two years. He was an intelligent young man, had a good job, made many new friends, and had a family with two young children.
One evening, I met with him to talk about life insurance. I asked him if he knew about life insurance and whether he was interested. He said he already had insurance from work, and he only planned on staying in Canada for a short period. He refused to obtain more information about life insurance.
I will remember this conversation forever. After six months, I learned that he had been admitted to the hospital under severe conditions. The next day, he went into a coma and later passed away. The cause of death was blood cancer.
It was disastrous for the family. He had left behind: his wife, working $8.00/hour, his son, 14 years old and his daughter, ten years old. His family got around $40,000 from his company group plan. I remember when I first met him when he landed in Canada, and I was sorry for the family’s loss.
The story does not end here.
After six months, four of his friends came to me to learn about life insurance products. I spent around two hours with them and explained life insurance and planning in detail.
They were serious about planning, but they had become busy again in their routine life. After four months, a family came to me to process their life insurance policy.
I have filled out all the forms and sent the policy in to be processed for approval of $500,000 for both husband and wife. After a month, the insurance policy was approved, and I went to deliver the policy to them.
It was very unfortunate that when I went to see them, I had come to know that the wife had been diagnosed with breast cancer just one day before and had to undergo surgery as soon as possible.
I was shocked and felt great remorse because I could not do anything for them at that moment. It was unfortunate, and the client applied a little bit earlier. She could’ve had financial compensation.
Time is always moving forward, and sickness can come at any age. Life expectancy has increased recently, but uncertainty has also increased. People get sick and die from cancer, heart attack, and stroke. Accidents, natural disasters, riots and terrorist acts happen very often nowadays.
Summary of Story
Plan to stay ahead of the game. Plan today because anything can happen tomorrow. Time will never stop. It is easy to die but hard to live in this world. Think about your family, who need financial support in your absence—plan to protect all your financial liabilities today.
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Disclaimer: Insurance, Investment and Mortgage products & services are provided by Devangkumar Shah.
Mutual Funds are sold through Shah Financial Planning Inc., the Mutual Fund Dealer.
Lotus Loans and Mortgage ltd. is the principal mortgage broker.