Robbing Peter to Pay Paul


In this day and age, household expenses have increased because of the necessities which we now have to stay current with our friends and families. Technology has changed the way that we communicate with the world. Besides groceries, clothing, and mortgages or rents, we now pay for mobile phones, computers, iPads, digital television, and WiFi. Unfortunately, if we do not have these items, we lose track of what is going on in the world.

Because our household expenses have increased, we now have to be wise about how we are spending the rest of our money. Deciding what is important and what is not has become a challenge. For example, protecting the family against calamity in the event of loss is something we must do in order to have peace of mind. When young families start accumulating property and saving for college funds for the children, they must give careful consideration to protecting their investments. Most families will find ways of cutting expenses by reducing their costs of other items.

Therefore, a wise decision would be to purchase a life insurance policy to cover the mortgage and incomes that would be lost if something were to happen to the parents. In this way, the family can continue their normal lifestyle. They could remain in the house, continue paying the mortgage and the children could attend college without having to take out loans. The average cost of tuition alone is $6500 per year. This does not include room and board

One of the features built into life insurance plans to make payment of premiums easier is the grace period. When policy owners find themselves strapped for cash to pay the premiums, the grace period would extend the time in which to make the payments and still hold onto the policy. The policyholder would have thirty days to make the payments. This prevents the policy from lapsing and gives the policyholder time to make the payments. None of the benefits are lost because of late payments. The policy stays in force, giving the policyholder peace of mind.

In conclusion, parents must decide how they are spending their money on the necessities of life while still making wise decisions to protect the family against loss.


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