Interviewer  0:01  

In conjunction with Life Insurance Awareness Month, EIS presents: “With Life Insurance, I’ve Got You.” In this special series of four podcasts, you’ll hear people share their personal stories about how key life insurance decisions and experiences led to positive impacts that resonate to this day. They’ll also share actionable insights based on what they’ve learned along the way.

Samantha Chow  0:26  

Hi, everybody, I’m Samantha Chow. I am the life annuity and health markets lead for EIS. I’ve been in the life insurance and annuities industry for over 20 years. And it is my passion, as I’ve learned over the years, what it can do for people. And I’ve worked everywhere from the carriers New York Life, and Aflac, to now supporting what I felt was the best option and technology for the life annuities industry.

Interviewer  0:53  

Now for all the incredible experience you have in the life insurance industry, the passion that you feel for it. There are also experiences you’ve had directly where life insurance made a big difference. Tell us about one.

Samantha Chow  1:10  

I was 21 when I started at Aflac, so being able to sit down and always talk to the agents and doing training and development. I learned very early on that life insurance wasn’t just death insurance. So sitting down with the agents and talking to them, they convinced me that I wanted to invest in a universal life policy. And so I did at the age of 21. That policy, seven years later, paid for my first home just in the cash value. So, when we think of life insurance today, and I talked to my friends, they all think about it in terms of death and not necessarily investment, which is a way of thinking that we really need to change, especially giving the savings momentum of that millennial market. 

It was the starting point for telling everyone Oh, look at this, you know, look what it can do for you. It’s not just about death insurance. At a young age, that’s what you think about life insurance as being. So I convinced my brother, he’s got his own universal life insurance, he’s done several things with his cash values, including put a daughter through college, and still has plenty more cash value to roll back into that for maybe retirement in the future or just leave that legacy behind. What it does is it opens up opportunities. At the time that my life expires, for my loved ones, it can be utilized. If you have the right kind of policy, and you’re dealing with the right kind of agent.

Interviewer  2:41  

What are some other ways that you’ve seen that have really made an impact?

Samantha Chow  2:47  

During the financial crisis, I’ve seen many people take advantage of those funds in order to keep them going in a time where their family members were losing their jobs. I’ve seen them utilize it for long-term care purposes. My grandmother used a lot of her cash value and a policy she bought eons ago. And she had no idea that there was cash value there, to have someone come in-home and care for her husband, my grandfather, just before he passed away so that he could be at home. And she could have the help and he could have the care that he needed in those last few weeks of his life.

Interviewer  3:26  

Wow, that’s very, very moving. Now. If you were sitting down with a friend or loved one, what would be the one thing you would want to stress? What might your advice be?

Samantha Chow  3:40  

I think my biggest piece of advice is to evaluate it in terms of what your financial goals are. If you’re in a situation where you can’t afford a lot, or you can’t afford much at one time, you know, look at the options of term insurance, making sure you have enough to cover at the bare minimum a year of your mortgage, your cars, your finances just in general, and get that term policy for that. For those of my friends that have children, I think my biggest recommendation is get their life insurance now, while it is affordable. There are lots of different plans out there. And even if they’re 16 years old, it’s still extremely affordable. Get it for them now. It’ll always be there. And that was the way it was done way back in the day when my grandmother purchased for my mother and my uncle and even for my brother. So that would be my biggest advice: at least that year, you need to have at least that year of coverage. And if you’re looking for savings and you’re looking for a way to put aside because you’re not good at savings, there are products for that, too. This is something you can benefit from over the course of your life when something arises, when you want to go on a huge vacation or, you know, take advantage and retire early. Those types of things. Again, there’s so much more to life insurance than someone’s passing and leaving something behind so that your family isn’t in a bad situation. This is about an opportunity to save. It’s about an opportunity to leave a legacy behind. And for those, you know, that may be in a situation where they look to leave a legacy, even to a charity. There’s so many different options here. If people just sit down and consider what they’re looking for financially, and making sure that they don’t leave their loved ones in a bind when the time comes.

Interviewer  5:36  

Samantha, thank you so much for being on the podcast, I really appreciate your making the time. Happy to be here. 

Thanks for tuning into this special EIS podcast commemorating Life Insurance Awareness Month. To hear all four episodes in this series, visit our website, eisgroup.com. Remember, it’s all in the name of discovering the true meaning behind the theme: “With Life Insurance, I’ve Got You.” 

Until next time, let’s keep in mind one value we all share: That we would do anything to protect our families and ensure they have bright futures. If we were no longer here, we’d want them to continue on financially. Life insurance is a simple, affordable way to say to your loved ones. I’ve got you, and mean it.