You’re not just depositing money, you’re depositing security, knowing every day that no matter what happens, your family will be taken care of.

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or some, buying insurance may seem like a luxury they can’t afford or don’t want to think about. But Ben Glancz, a financial representative at BFG, is explaining why it’s actually a necessity.

When you’re working and have a guaranteed income every year, you can focus on saving for big life events like education or marrying off children. If something happens, however, where the person bringing in money or the majority of the money for the family can’t support his or her loved ones any longer, whether it’s due to disability or a tragic death, the family’s going to be stuck — and without a way out. “A person cannot put enough money away to fund an event like that,” Glancz says.

“The only way to be covered or replace a loss like that is with insurance.” He explains that the Jewish community is unfortunately way underinsured. “When someone dies, there is often a GoFundMe page trying to raise money to help,” he says. “But $500,000 isn’t close to enough.”

THE RISK FACTOR

As a person moves through life, he increases his risk, Glancz says. And with that change comes the need to take measures to ensure those things are taken care of. “When you get married, you take on a risk; when you have kids and buy a house, you take on more,” he explains. “Most of the time, the risk is manageable; up to a certain extent, you’re in control, but becoming disabled is beyond that control. The only way to deal with this is to delegate that risk to an insurance company. They’re the ones who can aff ord to carry it for you.” You may be thinking you just don’t have the money to cover the cost of insurance contributions right now. But Glancz says that line of thinking is wrong and could cost you so much more in the long run. “Insurance is not that expensive for the benefi t you’re getting,” he says.

“When you pay the premium, you can sleep better at night. You’re not just depositing money, you’re depositing security, knowing every day that no matter what happens, your family will be taken care of.”

Ben Glancz is a licensed financial representative with Guardian who specializes in life, health, and longterm insurance. He can be reached at 718.840.3940. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. Brooklyn Financial, which is the doing business as (DBA) name of Guardian Distributors, LLC, is an Agency of The Guardian Life Insurance Company of America® (Guardian), New York, NY.

(Originally featured in 2.0, Issue 4)