We have had a very rocky 2012 with all the natural disasters and violence that occurred to innocent people. Because of this, we are going to take more responsibility in keeping our families safe. This means making better decisions and not leaving things to chance.
We are going to have to make difficult decisions involving our financial security, including the decision to purchase life insurance for each member of our families and ourselves in the event that something should happen to us. This includes our children. We have a tendency to believe that we will outlive our children, and in most cases that will be true. However, we have seen what occurred in Newtown, Connecticut, where many innocent children and teachers were slain at the hand of a gunman.
One incident such as this could devastate us emotionally and financially. When people fail to protect themselves from dangers such as these, it often cause calamites such as financial hardship. One such person in my area drowned in an incident at sea recently. Unfortunately, his family did not take out life insurance on him and there was no money for his funeral. However, they were fortunate in that the community rallied together and raised money to cover his expenses.
This may or may not happen in every case. Studies have shown that approximately forty-eight percent of the population dies without life insurance to cover final expenses. LIMRA reports that, “Three in 10 American households (35 million) are
uninsured and half say they need more life insurance.” People know they need the life insurance, but fail to purchase it.
There are many reasons why people do not purchase life insurance and mainly it is because of priorities. People mistakenly believe that they cannot afford to purchase life insurance. Insurance agents can find an affordable insurance plan for you and your family. Low cost term insurance would be the best option for most families.
If you are overspending,, why not make a New years resolution to stop spending money unwisely and invest in life insurance for you and the family which would give peace and protection when they need it most, at the time of the loss of a loved one. Not having insurance leaves an unnecessary burden on the rest of the family to provide final expenses.
If you know someone who needs life insurance protection to cover their family and you have an insurance agent, recommend them. Sadly, some people never get approached about life insurance.