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Home › Articles › Life Insurance › An Emotional Purchase

An Emotional Purchase

Dads Getting Peace of Mind Through Life Insurance

By Mark Stackpole

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Peace of Mind
Brian Kaplan is a public relations professional from New York, N.Y. Married with a 21-month-old son, Kaplan recently made a dramatic increase to his life insurance policy. His decision was based on the fact that his wife was unable to up her policy and that, as independent business owners, they both face an element of instability in their professional lives. "I see life insurance as having two benefits: immediate money for my wife and son in the event of my death and as a building investment for me and my family as I get older," he says.

Kaplan is lucky enough to have a friend in the life insurance business who helped him make these important decisions and understand some of the nuances of the policies and plans. As a result of feedback from his friend, Kaplan has term life insurance that he plans to slowly convert to whole life insurance, which would allow him to lock in higher interest rates.

"While it's not a subject anyone enjoys, it is a necessity in the event of death," says Kaplan. "It's certainly better than leaving your family without any money in a terrible time of grief. When my son was born, I made a concerted decision to substantially increase the policy by 500 percent. I more or less made the decision on my own because my wife was dealing with her own stress in the form of a new child, business to juggle and family health concerns. This is not the best policy to determine solo, but it was one that I felt strongly about at the time."


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