I’m sure this may sound like a sponsored post, but it’s not. Just a life nugget I’ll like to drop. Oh… and I’m not trying to solicit you to purchase life insurance.
It wasn’t until my husband and I were in our 5th year of marriage that we learned the importance of having life insurance for our family. My husband and I had become insurance agents and learned a lot from our short lived insurance careers LOL. Thankfully it wasn’t from a tragic event that we learned this lesson and hopefully we won’t have to use it anytime soon.
No matter if you’re a one or two family income home the fact is, if something happens to you or your spouse your family will take a financial hit. When a family suffers the loss of the bread winner the surviving spouse will immediately lose that income, not to mention burial cost. It doesn’t matter if there’s a mortgage or rent… it must be paid. The same goes for losing a parent that cares for the home and children. Although that spouse didn’t contribute financially, they helped with saving on daycare and other expenses.
Another key factor is having the adequate amount of life insurance to make sure our loved ones don’t have to worry financially while they grieve. When we’re raising kids, in the process of buying homes etc. having a sufficient life insurance policy is wise. However, as we get older, when our homes are paid off, kids finished college and moved away there’s less of a financial burden. With the purpose of, as we get older we should have burial expenses saved and we’re not leaving our spouses and children with a huge financial burden.
So, does your family have life insurance?