St. Louis, Missouri (PRWEB) October 09, 2011
Most American households are underinsured for life insurance. Whether due to the lack of finances, lack of knowledge about insurance choices, or not being proactive, families are at risk of losing their home or being unable to educate their children in the event of the death of the breadwinner.
Residents of Missouri and Illinois can take advantage of a free review of their existing life insurance coverage through the end of October (no purchase required) by Tealbrook Financial LLC in St. Louis. Michael Tsiaklides, Certified Financial Planner (CFP®), licensed life insurance agent (MO, IL) and Principal of Tealbrook Financial believes adequate life insurance coverage is a vital part of a healthy financial plan. To help raise awareness of the consequences of being underinsured, he is making this offer in celebration of Insurance Awareness Month in September, a time set aside by the Life Insurance and Market Research Association (LIMRA) in response to their recent research findings.
Tsiaklides sees the same problems among his own friends and clients, but suggests one more reason may be to blame. “Many people procrastinate in buying life insurance for fear of discussing the subject of their own death,” says Tsiaklides. “They should reframe their thinking, and consider life insurance as a gift they are purchasing for a spouse, a partner, children, or even a beloved charity.” This gift in essence will take care of future home mortgage payments, household loans and expenses, and children’s education costs.
In this special offer, Tealbrook will calculate sufficient coverage and costs, based on a person’s unique financial situation, at no charge, for the first 500 respondents. Any purchase of additional coverage recommended may be made through Tealbrook or through a life insurance agent of choice.
Tsiaklides shares some tips which address some of the ambiguities surrounding the purchase of life insurance:
- Individuals are not restricted to just one policy but may have multiple policies offered by a combination of providers, including insurance agents and employee-based benefit plans
- Take note of total amount of coverage through multiple policies; some individuals with multiple policies are still underinsured
- Review policy restrictions carefully; for example, accidental life insurance will only pay if death occurs in an accident
- Premiums to purchase additional coverage within an employer-based plan is typically not the most cost effective; consider purchasing additional coverage from independent insurance agents
- Beware of depending solely on employer-based programs; the loss of employment means loss of life insurance benefits
- Purchase life insurance policies before you age and health begins to deteriorate to lock-in best price; premiums rise as you age
- Purchase life insurance as soon as you incur liabilities; examples include taking on a mortgage, spouse, or birth of a child
To take advantage of the complimentary life insurance coverage assessment offer, or to receive additional information or brochures, email mike(at)tealbrookfinancial(dot)com.
About Tealbrook Financial, LLC
Founded in 2001, Tealbrook Financial LLC and its affiliated company Tealbrook Advisors LLC provide wealth management, tax, accounting, and advisory services for individuals and small businesses. Principal Michael Tsiaklides is a licensed insurance agent in Missouri and Illinois, an IRS Enrolled Agent, and a Certified Financial PlannerTM. The mission of Tealbrook Financial, LLC is to understand the unique financial goals and objectives of each and every client, and to provide products, services, and advice to work toward those specific goals.
The Life Insurance and Market Research Association (LIMRA), a subsidiary of LL Global, is an association of life insurance and financial services companies with approximately 850 members in more than 70 countries around the world. LIMRA was founded in 1916 to perform research and other activities to help member companies worldwide improve their marketing and distribution effectiveness. LIMRA’s main office is located in Windsor, Connecticut.