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Protecting Your Future: The Lifesaving Decision I Made as a CPA

Protecting Your Future: The Lifesaving Decision I Made as a CPA

September 21, 2023


As a Certified Public Accountant (CPA) for more than a decade, I've come across a lot of people with different questions about the financial intricacies that shape our lives. One of those topics that is often misunderstood but holds immense importance is life insurance. There are a lot of details behind it but what probably means most about life insurance is why. Considering my background in finance and accounting, I believe it's crucial to shed light on this essential aspect of financial planning.

My Personal Journey with Life Insurance

Those who know me best recognize that I'm not just a CPA who deals with numbers and spreadsheets. I'm also someone who recognizes the value of protecting today, tomorrow, and what truly matters – our lives. I took a long-term perspective and placed a significant amount of life insurance on myself, and it turned out to be one of the best decisions I ever made.

When I purchased my life insurance (LI), the prospect of needing it didn't loom large. After all, I was young and healthy, far from needing protection, or so I thought. Little did I know that this foresight would be a game-changer. Life insurance became my armor long before I faced any battles.

A Twist in the Tale: Invasive Melanoma

Life has its way of introducing plot twists when least expected. A few years ago, I received an unexpected diagnosis of invasive melanoma skin cancer. The good news is it was identified early, and the melanoma area was successfully removed before it spread further. However, it immediately cast a shadow over my insurability. The ability to obtain additional insurance coverage became complex and was no longer a guarantee, making my earlier decision all the more significant.

A Growing Family, A Deepening Gratitude

Life moves swiftly, and before I knew it, I found myself embracing the joys and responsibilities of parenthood. Three children later, I am overwhelmed with gratitude for the choices I made earlier. The life insurance policies I had the foresight to scale before necessity arose became a lifeline I couldn't replicate today. My family is properly protected no matter what happens next.

Conclusion: Protecting Tomorrow, Today

In the realm of finance, numbers tell a story. But as I've come to realize, life is the most valuable narrative of all. My journey as a CPA, intertwined with my experience as a life insurance policyholder, has taught me a vital lesson: protecting our future isn't just about managing funds, but also about managing risks. Whether it's for unforeseen business challenges or unexpected health hurdles, life insurance stands as a testament to prudence and preparation.

Let's embrace the spirit of Life Insurance Awareness Month and channel it into proactive steps toward protecting what matters most – the well-being of those we cherish. The path to financial confidence begins with awareness, knowledge, and a commitment to nurturing the growth of lasting protection. Once you determine the amount of life insurance, the subsequent discussion would be the type, followed by the positioning of it. How I design my life insurance as a tool in my finances to unlock cash flow, mitigate taxes, and pursue opportunities is a separate discussion. If you would like someone to determine the amount and type of life insurance to provide what you want to happen in any scenario, be proactive and contact a financial professional.

Read More About Chad

Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. WestPac Wealth Partners LLC is not an affiliate or subsidiary of PAS or Guardian. Insurance products offered through WestPac Wealth Partners and Insurance Services, LLC, a DBA of WestPac Wealth Partners, LLC. CA Insurance License Number - 4046027. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice.  Consult your tax, legal, or accounting professional regarding your individual situation. | Not practicing CPA for Guardian or any subsidiaries or affiliates thereof.  | 2023-161212 Exp. 09/25

This material is meant for general use.  By providing this content Park Avenue Securities LLC and your financial representative are not undertaking to provide investment advice or make a recommendation for a specific individual or situation, or to otherwise act in a fiduciary capacity.