Did you know that $20-$40* a month can build or preserve a family legacy—
ensuring each generation continues to move forward? It’s easier than ever to get a policy—whether it is online, over the phone, or with a trusted financial professional. So why is it so taboo to talk about it?
We spoke with Candice Darien, Life Regional Vice President at Nationwide, and Siedah Garrett-Guess, Founder of Young & Financially Lit, to discuss some of the common barriers to buying life insurance, and why it’s important to overcome them—especially in the Black community.
People assume that it’s going to cost a lot, and don’t realize how affordable it is. “Planning now rather than waiting later will give you more options to tailor the contract. For example, your age and medical history contribute to the cost of insurance planning. Typically, you’re healthier at a younger age, so if you take action today, you have more control to customize a plan that fits your budget” says Candice. And Siedah says not to count ourselves out “Even if you think you’re too old, there are still options out there. I help my clients understand that life insurance is something that they can’t afford not to have. When they see how it can work within their finances, they are excited and grateful.”
Don’t Like Thinking About Death
Candice knows no one wants to think about death, so Siedah flips the script by saying we’re not even talking about death, “We’re talking about the impact that you want to have on your family. Do you want them to be upset with you because of a debt you left them or do you want them to remember that you always took care of them?”
It’s Too Complicated
Yes, life insurance can be difficult to understand. “Life insurance is difficult for a lot of us to understand because it’s something that we’ve never been educated about. It’s something that we’ve never had conversations about in our home,” says Siedah. “We have to be the change makers. We have to be the ones to say that we will take the time to understand because it’s too important to be left in the dark.” Nationwide has a team of licensed professionals to help you understand your options for free.
Afraid I Won’t Qualify
Don’t knock yourself out of the running before you even get started. “Work with a financial professional. It’s their goal is to find you a company that will insure you. Generally, there is a company that has a protection plan right for you. Consider the options that a financial professional offers,” says Candice.
Nationwide, Young and Financially Lit, and other third-party companies mentioned in this article are separate and non-affiliated entities.
*Example term life price 30yo, F, Preferred Plus, $1M $29.30.