Gratitude plays a big role in our family. I have a great life and I don’t take it for granted. Since my girls were very little, I’ve worked to cultivate a gratitude mindset in them as well. We talk about being lucky duckies and I express gratitude in front of them regularly. As grateful as I am for the wonderful life we have together, I know gratitude alone isn’t enough. It also must be protected.
Sometimes the mere mention of life insurance can make a person become uncomfortable. For some, it’s an unwelcome reminder that they still need a will or estate plan. Others simply don’t want to consider the possibility of an untimely death. For me, life insurance isn’t something I fear. It gives me peace of mind.
While I certainly hope that I am blessed with a long, happy life, I know life is unpredictable, and I want to ensure that my family will be okay, if the unthinkable happens. To rest easy knowing that my family can remain in our home, the girls can still go college and go on vacations as we planned, etc. I have seen the difficulties of picking up the financial pieces after an untimely death, and I have also seen the great relief of a surviving spouse who can focus on grieving and raising the children with the full knowledge that they will be okay financially. I have also been thanked by the dying spouse for continually reminding him of the need to protect his most valuable asset—his family.
Please take a look at this great infographic put together by HR Block. 40% of families would immediately struggle to cover everyday expenses if the primary breadwinner died. How would your family do?
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SHANNON RYAN, CFP®
Now when it comes to insurance, I certainly do believe it gives families some peace of mind and its a good cushion for when life throws in a spanner in the works!
Over the years I've watched too many people have a tragedy in the family and be left without a dime. Not only is the family devastated with grief but now they have to push themselves to quickly go back to work so that they can afford their bills and any additional expenses from the person that died. Very sad.
My husband has a life insurance policy through his job and to tell you the truth, I'm not really familiar with his coverage.
I guess I'm like those folks out there who feel dealing with this means this end is near soon when like you said, life is unpredictable.
I would love that peace of mind you described in your post knowing my family would be taken care of if something happened to either of us.
Thanks for sharing this! Happy Monday Shannon!
Thanks for sharing this post with us Shannon! It was a crazy week so I am definitely ready for the weekend. Have a fabulous weekend!
Many people don't realize they are three times as likely to suffer a disability than die early. The numbers for disability insurance are even lower.
Thanks for this ...I'm reminded I need to help my parents with their Will.
Thanks for this article, Shannon!
I couldn't agree with you more, it's more a peace of mind for your family then anything else.
13 years ago this past September my best friend at that time lost her husband at the age of 43 to a hypertension stroke to the brain. They had a 5 year old son and no life insurance policy or will. She went through pure hell for the next 5 years trying to get things in order and straighten things out. It was a nightmare for her but the initial shock of his sudden death was much worse.
Think how much of a blessing it would have been for her had he had things in order. No one expects to die at an early age. Life insurance isn't about the dead, it's about the living so do what's right for your family and get that in place.
Two months after his passing I not only had a will made but I bought life insurance. My headstone is also already bought so my family doesn't have to worry about these things.
Just be smart!
~Adrienne