As 2019 winds down to a close, our thoughts often swing between reflecting on what the past year has brought us and what the next year will hold. For some, this can be a mixture of regret, joy, fear, and hope. These thoughts often prompt us to want to make changes in the coming year to improve ourselves in one way or another. Unfortunately, these New Year’s resolutions are goals that have a reputation for petering out within the first few months of the year. But there is one resolution you want to add to the list that is both attainable and has long-lasting benefits: life insurance.
New year’s resolutions can be powerful tools in the hands of those dedicated enough to see them through to the end. The problem is, not all goals make great new year’s resolutions. The reason why so many people give up on their resolutions within the first few months, weeks, or even days is often because they didn’t choose the right goals.
The best goals can be identified with the acronym SMART. These objectives are Specific, Measurable, Attainable, Relevant, and Time-Based. A SMART goal allows you to create a framework of discipline that will help you stay on track as the months go on.
Here are some common New Year’s resolutions and why they fall short of being SMART goals:
Losing Weight: It goes without saying that one of the most prevalent new year’s resolutions for Americans is weight loss. We have an obesity epidemic here in the United States, and it makes sense that we want to orient our goals toward living healthier lives. The problem is that this goal is often not specific enough. Even wanting to lose 20 pounds by the end of the year is not specific enough. What measures will you take to get there? How will you diet and exercise routine change? How will you guard against slip ups? You need to get into the details of your plan if you hope to succeed.
Learning a New Language: This can also be applied to anything that has to do with personal development, but we’ll use this common goal as an example. While it is a noble and useful goal, learning a new language takes years of study, dedication, and oftentimes immersion for most to achieve. This goal fails to be attainable within the time frame. Try making it more specific and measurable, such as reaching a certain level in an online course or memorizing a certain number of vocabulary words in the language.
Saving Money: Money is the universal lubricant. While it shouldn’t be the most important thing in life, it is something that should be considered, managed, and used as wisely as possible. But “saving more money” lacks specificity. How much do you want to save? What do you want to save for? Where will you put the saved money? These questions need to be answered so that you have a finish line to cross at the end of the year.
These new year’s resolutions are great to have, especially if you turn them into SMART goals and maximize your chances of success this year. However, there is one goal that checks all the boxes and should be added to your list: get life insurance. Here is why it’s the perfect SMART goal:
It’s Specific: Getting life insurance is a specific goal that has a clear beginning and end. Once you get it, you’re done. It’s not like the goals of losing weight or saving money, which are broad and can come and go throughout the year.
It’s Measurable: With many life insurance plans, there is a fixed coverage amount and a fixed premium, meaning that you always know what you will pay and what you will receive in a claim. A life insurance agent can help you assess the value of what you would like to protect to properly measure the coverage you would like to purchase.
It’s Attainable: No one is excluded from buying a policy. Even if you are over 70 or have serious pre-existing medical conditions, there is a plan designed specifically for you.
It’s Relevant: The loved ones in your life are important, so protecting them will always remain a relevant goal. Life insurance not only buys financial security, but it also buys a peace of mind knowing that you will leave something behind that your loved ones can depend on.
It’s Time-Based: You can mark a date on your calendar today to purchase a policy, unlike other goals where you hope to achieve them at some point before the end of the year. Plus, life insurance isn’t a short-term goal like getting into shape can be, once you have it, it works for you for years to come.
No matter how you slice it, getting life insurance is a fantastic and useful goal that is easily within reach. That being said, understanding the ins and outs of life insurance is not so easy. There are many different plans that vary in terms of length, price, coverage amount, add-ons, investment options, and more. Knowing which plan is best for you and your family in 2020 is often best left to experts in the industry.
Here at LifeQuote we have a team of dedicated life insurance agents who will work alongside you to find the policy that best meets your needs. From start to finish, we make the purchasing process as simple as possible. We even have plans that don’t require a medical exam and allow you to get approval in minutes! So don’t wait, contact us today for a free quote and start working toward a New Year’s resolution you can keep.