I have a colleague who quoted his friend’s parents for life insurance back in 2004. At the time, both were healthy and were looking at $250,000-$500,000 policy for the mother, and $750,000-$1,000,000 policy for the dad.

After a few rounds of going back and forth, they abandoned the idea and decided that they were going to hold off buying the life insurance policies.

In 2006,  the mother died abruptly of cancer.

In 2008, the friend finally decided to go ahead with the life insurance app for his dad. He was declined due to abnormal liver panel. Dad died 6 months later due to extremely aggressive cancer.

This is a fantastic example of why you DON’T PROCRASTINATE with life insurance.

This was just a story that I wanted to share with everyone. Life insurance is at near time lows but rates might be going up in the future. Don’t procrastinate when it comes to life insurance.