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Financial priorities in life – cell phone or loved ones?

08-27-2021

Your monthly expenses can say a lot about what you value. What are your nice to haves vs. must haves? 

Life is busy, and if you’re like many people, your monthly expenses have changed without thoughtful consideration. When was the last time you took a step back to separate your must haves vs. your nice to haves? For example, does your must have list include protection for your family’s financial future should an unexpected event occur? If not, you may want to consider adding life insurance to your list of must haves.

If you’re wondering about the cost, it’s much more affordable than you think, especially when compared to other monthly expenses. After all, family is forever . . . and there’s no better time than the present to show them how much you care.

Take a common monthly expense – your cell phone plan – and let’s compare.  

  •  $133/month is the average cost of cell phone plan. 1
  •  $20/month is the cost of a $500,000 life insurance policy. 2

1 The average cost of a cellphone plan in the US, allconnect, December 2020
2 Female, 30-year-old, Select-a-Term, non-tobacco, healthy preferred rating, 20-year duration; Rates as of October, 25, 2021.

AIG Life & Retirement consists of four operating segments: Individual Retirement, Group Retirement, Life Insurance and Institutional Markets. It includes the following major U.S. life insurance companies: American General Life Insurance Company; The Variable Annuity Life Insurance Company; and The United States Life Insurance Company in the City of New York.

Life insurance and annuities issued by American General Life Insurance Company (AGL), Houston, TX except in New York, where issued by The United States Life Insurance Company in the City of New York (US Life). Certain annuities are issued by The Variable Annuity Life Insurance Company (VALIC), Houston, TX.  Issuing companies AGL, US Life and VALIC are responsible for financial obligations of insurance products. AGL does not solicit, issue or deliver policies or contracts in the state of New York. VALIC, AGL and USL, its employees, representatives do not provide tax or legal advice. Products and services may not be available in all states and product features may vary by state.

Securities products are distributed by AIG Capital Services, Inc. (ACS). Member FINRA, 21650 Oxnard Street, Suite 750, Woodland Hills, CA 91367-4997.

AIG Retirement Services represents The Variable Annuity Life Insurance Company (VALIC), Houston, TX and its subsidiaries, VALIC Financial Advisors, Inc. (VFA) and VALIC Retirement Services Company (VRSCO). Securities and investment advisory services offered through VALIC Financial Advisors, Inc. (VFA), member FINRA, SIPC and an SEC-registered investment adviser, 2919 Allen Pkwy, L03-20, Houston, TX 77019-2158.

All companies are members of American International Group, Inc. (AIG).

This material is general in nature, was developed for educational use only, and is not intended to provide financial, legal, fiduciary, accounting or tax advice, nor is it intended to make any recommendations. Applicable laws and regulations are complex and subject to change. Please consult with your financial professional regarding your situation. For legal, accounting or tax advice consult the appropriate professional.