This week, I want to give a shout out to Don McNay, CLU, ChFC, MSFS, CSSC, for his excellent article posted May 14 on The Huffington Post, titled A Different Look at Life Insurance.
In the short article, McNay, an award-winning syndicated financial columnist, makes a compelling argument that most consumers are unnecessarily missing out on a golden opportunity to use life insurance to accomplish much more than they could without it.
Let's hope his article does not fall on deaf ears, because this is exactly the type of easy-to-understand information about life insurance the general public desperately needs to be hearing. Maybe people who read it will finally wake up to the unmatched power of life insurance to protect their family and make their charitable ambitions go much further — all while enjoying significant tax advantages. With the article appearing on The Huffington Post site, with its No. 6 news Web site traffic ranking of 35 million monthly unique visitors, it should gain some attention.
"I've come to the conclusion that we really need more life insurance agents," McNay says in the article. "Too many people need more insurance than they have."
Amen, brother. This is what I shout from the hilltops these days until I'm blue in the face, but my soapbox is in front of the choir while McNay's is in front of the whole congregation.
McNay goes on to explain in simple language how he is using a variety of life insurance policies to accomplish many goals, including endowing college scholarships and utilizing a trust that will buy annuities for his beneficiaries that will pay them monthly for the rest of their lives while protecting them from being "susceptible to quick-buck artists and outside pressures."
