Friday, September 25, 2015

Americans and Emergency Savings

Which category are you?

  • 29%  NO savings
  • 22%  6 months of savings
  • 21%  Less than 6 months of savings
  • 15% 3-5 months of savings
  • 13% Didn't know/declined to answer
Does the savings you have offer any significant impact on helping a financial crisis?

By failing to adequately prepare you are preparing to fail.

Trisha M. Pacenti RN,BSN

Cost of life insurance

The true cost of life insurance. 3 out of 4 people believe they have a good understanding of life insurance. But do they really? When asked specific questions of life insurance they don't understand the different types of life insurance, how it works and the benefits that come along with it.  When it comes to cost, ideas are all over the board. People throw numbers around and they have no idea how they came up with that number. That "number just sounds right" to them.

Fortunately, business does not work that way. There would be no thought, no structure, no logistics, no analysis, no statistical means on conducting business. It would just be, "well that number sounds good so lets use that one." Doesn't make any sense does it? Businesses would collapse and households bankrupt without any true mathematical sequence used to generate a number. Math is incorporated into every life.

When asked how much a yearly premium would be for a 20 year level term policy with a face value of $250,000 the answers were all guessed. It was obvious people did not understand the question and numbers shouted out reflected their lack of understanding of life insurance.

Annual premiums on life insurance is much less expensive than you think. The value added benefit of having life insurance far outweighs any monthly bill you have. Cost of life insurance is less than your cable bill, less than your phone bill, grocery bill. etc. One vacation could pay for many years of insurance premium. 

In summation, before you say no or render an opinion on something you know nothing about, do due diligence and take the time to learn about how insurance can prevent financial ruin. 
Learn more at

The more you know,

Trisha M. Pacenti RN,BSN