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Did you know that September was National Life Insurance Month? Most people are probably like me; I never thought about it or even considered it as an option for whatever reason. I’ll be the first to say that I don’t consider many things until it hits home, and that’s the case of getting life insurance. The night before the Super Bowl, earlier this year, my dad passed away, and even though he was in his mid-60s, it was something I at no time thought about. You see I looked up to my dad so much and put him on this God-like pedestal that I never saw him passing away. He was rarely sick until the last couple of years of his life, and I never questioned him about having life insurance because honestly, that was a hard subject to talk about because you know the reasoning is that you’ll pass away one day. There are many companies that offer life insurance, like Protective Life that will help you with any types of life insurance.
The night he died, we left the hospital, and I went to my parents’ house to check on my mother and stayed to about 4 in the morning. After consoling her, receiving many calls and texts from people and just reminiscing, we started talking about burial arrangements. Honestly, she didn’t know where to start because that’s something they never talked about and to her knowledge, he didn’t have life insurance. If you have ever taken part in making the final arrangements, then you know how much of a headache it is an running around you has to do in a short period of time. After digging through everything possible, we found out he didn’t have life insurance and when we went to the funeral home to get everything situated, the prices were through the roof. The cheapest you’re going to pay for everything needed after a loved one pass is around 10K, yes that’s correct and that’s the most inexpensive package you’ll get. Check out this great video from Anthony Anderson on life insurance where he talks about his upbringing and that over 100 million Americans don’t have life insurance. Below are three things I wouldn’t want my family to lose whenever I pass away!!!
House
If you have life insurance through your employer, it’s not enough to help my wife raise our three kids and pay the mortgage. In the event that something happens to me, my employer would pay two times my annual salary, which isn’t nearly enough to keep the house paid.
Car
One of the issues you have to deal with besides the mortgage is also paying on the family car. One of the misconceptions about life insurance is that it’s expensive and too complicated to consider it. When people tell me that it’s too expensive, my reaction is look at how much money is needed just to help pay off the mortgage and the vehicle you drive then you’ll realize that it’s pretty cheap.
Vacation
The most important factor for any parent is taking care of the kids once you’re gone. Since I have a couple of teenagers and my youngest being in the 5th grade, they will be going through enough losing a parent and I don’t want them to have to worry about my final expenses along with I mentioned up above. Every year, we take vacations during the summer and I wouldn’t want them to stop just because I had passed away. Luckily, I started my life insurance when I was much younger so I got cheaper rates. The older you get, the more money you’ll pay a month, but that also factors your health also.
Have you experienced something in your life that made you think about or purchase life insurance? What is your stance on the importance of life insurance? If you haven’t gotten life insurance, did my situation at least make you think twice about it?
