Life insurance provides a superb way of providing for your loved ones even after your life has ended. I have an uncle who has recently passed away. Though we share many memories, the one thing that I always thank him for is being the person who gave me my first job.
I saw my uncle wake up 7 days a week at 4:30 AM and not clock out until around 11:00 PM that night. We worked for a Jewish grocery store that also provided delivery and catering services for Jewish events. In an entire year all of his days off combined may amount to about two weeks. This man was the definition of hard work. When he died after my freshman year of college it rocked everyone who knew him.
What stood out most of all was that there was NO money to bury him, leaving cremation the only affordable option. How could a man that worked so hard not have any funds to attribute to his own funeral? What if he’s leaving a wife and children behind, how will that loss of income be supplemented? Among the many investment options we have, life insurance is the most unselfish. You are leaving actual funds your loved ones can use to help buffer the financial blow the loss of your life will cause them.
Maybe my uncle was aware of the necessity of life insurance but couldn’t afford the premiums. The premiums my uncle would have been offered would have certainly been high due to his age(late 40’s) and health issues. The younger you are, the lower your premium. This premium will be locked in and wont change as you get older or sick.
Click Here to find out about some of the different types of life insurance policies.
LET’S BUILD OUR FINANCIAL LITERACY ONE STEP AT A TIME!!!!