Company: People Shouldn't Fear Life Insurance

America is a very young country that places a high value on youth, and evidence of this is splashed across our media outlets everyday with incessant infomercials and commercials that promise beauty, eternal youth and practically eternal life.

On the other hand, most people know, at least intellectually, that there are two things we can be certain about—the old phrase taxes and death.

But yet it's unclear why people are so hesitant to purchase life insurance.

“As a society, we are programmed to avoid thinking about getting old or sick, and dying,” said Michael Vesuvio, president of Emerald Financial, which was established in Bridgewater in 1996.

Vesuvio launched the business with a team of 15 representatives, which has now grown to nearly 100 staff members and financial professionals in four offices throughout New Jersey.

“Most people want to avoid the process because there is a general belief that it’s not going to happen to me, but if you wait until you are sick, you can no longer buy life insurance,” he said.

Vesuvio said it is really important to face the stark reality.

"[They have to ask themselves] 'would my family be okay financially without me in the picture?’" he said.

Life insurance, Vesuvio said, is one of the few guarantees families can rely on to maintain their quality of life.

Vesuvio said there are a few things to think about when considering what type of life insurance makes sense.

“Start by figuring out how much of your income would need to be replaced for your family to maintain its standard of living," he said. "Add up your family’s current and future financial obligations and subtract from that number the financial resources that will be there when you’re gone. The remaining number is a good target to shoot for when buying insurance."

Vesuvio said that for those who need help with calculations, they can go online through the LIFE Foundation, a non-profit life insurance resource center that offers a free needs calculator that can help determine the amount of coverage needed.

There are two main types of life insurance, Vesuvio said, term and permanent.

“Both offer advantages, but the kind of coverage that’s right for you—term, permanent or a combination of both—will depend on your personal situation and financial goals,” he said.

To get a better understanding of what might be the best, interested parties can use the LIFE Foundation’s interactive product selector. 

And Life Insurance Awareness Month is an industry-wide effort that is coordinated by the nonprofit LIFE Foundation.

According to Vesuvio, the month-long campaign was created to help provide greater awareness for the large numbers of Americans who do not have adequate life insurance.

According to recent statistics, said marketing coordinator Sara Cervalo, 95 million adult Americans have no life insurance, and many of those who do have less coverage than is recommended.

Unfortunately most Americans, whether they want to admit it or not, share Woody Allen’s view.

Allen said, “I am not afraid of death, I just don't want to be there when it happens.”  

For more information, contact Emerald Financial of Mass Mutual.