It’s really the same old questions. Who should have life insurance? When should you get life insurance? How much life insurance is enough? The problem is that there are far too many people out there that aren’t even asking the questions. To say we are amazed that there are tens of millions of men with wives and children who won’t leave anything behind to help them out if they die prematurely is an understatement. We see it all the time wherever we get our news. A guy dies unexpectedly leaving behind a loving wife and three beautiful children and because the husband never got around to considering what that reality would look like, they didn’t have life insurance. Code for this in the news is “an account has been set up to accept donations to the family”….. Wouldn’t need that if someone had given a little thought and a tiny portion of their budget for life insurance to make sure their family didn’t need donations.
Seriously, if you died and your family was left hoping for donations from friends and family, how much do you think they would get. $20,000? Maybe someone loves your family more than you did and will give them $100,000. Maybe they won’t get enough to bury you so they’ll be forced to sell your body to science to pay for the funeral. And the excuse for leaving your family in this kind of predicament is usually really stupid. We don’t mean to be harsh, but life insurance is so inexpensive compared to half of the unnecessary things in our budget that you either have to be stupid or selfish not to have it.
So, how do you start answering those questions.
1. Who should have life insurance? Anyone who has a responsibility that will go unmet if they die. And please, if you’re married and you don’t think you have a responsibility to take care of your family for better, worse or dead, they should revoke your license. Whether it’s the responsibility of a family or money that is owed by your business to a bank, you should have life insurance to make sure you aren’t leaving that around for someone else to deal with.
2. When should you get life insurance? Right now would be good, but certainly no later than when you know you are going to have a responsibility that could leave someone in a pinch.
3. How much life insurance. Being from the Rocky Mountains and all of their national forests, parks and wilderness areas, we’re used to seeing that sign that says, “Leave no trace”. Leave no trace life insurance is how much. Even though you’re gone, other than the emotional part, you should leave no sign that you left a mess behind.
Consider it. Your family deserves better than donations and you can count on the fact that no one is going to donate to the business partner you left behind. If you have questions or would like to know just how little you’ve been avoiding paying for adequate life insurance, call or email us. We can help.
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