Life Insurance Gift for Christmas

I pay close attention to many of the polls that come out around the holidays to see what the hot gifts are for the year.  Always at the top of “trendiest” gifts are the latest and greatest tech gadgets (this year things like the Imac mini and google’s version of the new tablet as well), to LCD TV’s, popular children’s games and toys, and hunting/fishing equipment.  However, one thing that I have never seen on any hot gift list is Life Insurance.

Perhaps it is because no one wants to receive a gift from a close friend, loved one, or relative that basically screams out the reminder that you are going to die at some point.  But can life insurance be a genuine gift around the holidays?  Absolutely!  In fact, I think it is one of the best gifts you could give any loved one, almost regardless of age.  The one thing to keep in mind is that they only way you can take out life insurance on someone else is if you have an insurable interest (such as a relative, business partner, spouse, etc).

Let me tell you a quick story of the most memorable Christmas gifts that I have received, and that I still have in my possession today.  My mom has the foresight to start giving me a Silver Dollar every year for Christmas as one of my gifts.  The first time I can recall receiving it was when I was 4 years old (so this was my 4th silver dollar).  As a young child, I did not appreciate the silver dollar one bit, but I can still remember my mom reminding me the importance of holding on to these silver dollars and that over time it would increase in value, unlike any of the toys that I constantly tore apart.  Today, I have someone managed to hang on to every single silver dollar since birth (even after approximately 12 moves over the last few decades) and they have certainly increased in value.  Moreover, it is one of the few gifts that I can still remember from every Christmas.

Now although I wish that the silver coins were actually gold coins, I hope you get this gist of the story.  Silver coins, gold coins, or life insurance are certainly not appreciated as much as a brand new LCD TV, Ipad, perfume, or trendiest clothes line.  But which one will actually have value in 5 years from now?  How about 10 years from now?  Now think about 30 years from now…I am certain that the TV will have been replaced multiple times, the iPad 2 is now the iPad 22, the perfume is long gone, and the clothes are withered away.   But the life insurance and coins can stand the test of time, can retain real monetary value for decades, and will be remembered long after the trendy items have vanished.

The biggest question in my opinion isn’t whether life insurance is an incredible Christmas gift, it is more of a question of which type to buy your loved ones, term insurance or permanent insurance…

Make sure to download the Truth about Life Insurance Series to see which type of life insurance works best in certain situations.

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