Reading through the sports pages of the Chicago Tribune recently, I unexpectedly came across an article that provides a powerful lesson for MDRT members.
It highlighted Taylor Lawless, a gifted high school basketball player who will miss her senior season due – in large part – to the fact that her father did not have an adequate amount of life insurance. His unexpected death at only 44 years of age left the family without the funds needed to purchase health insurance.
So, when Taylor was injured last summer, they could not afford the knee surgery she needed, which would have allowed her to participate in the upcoming season.
According to the article, Mrs. Lawless had no idea the family’s insurance plans were so inadequate. She found out too late that their agent had recommended additional coverage to Mr. Lawless.
Thanks to government assistance, Taylor has now had surgery and will be able to play basketball next year at the collegiate level. Unfortunately, she’ll never replace the memories she would have created during her final high school season.
What can we do to ensure that both spouses are more actively involved in important life insurance and financial planning discussions? Does anyone have a technique or approach that works particularly well?
