Who Needs Life Insurance?

Life insurance is a simple answer to a difficult question: How will my family manage financially when I die? It's a subject no one wants to talk about but everyone should address.

Common excuses that shouldn't stop you from getting the coverage you need:

• "It's Too Expensive."
  Not having life insurance coverage will be more costly to your family if you aren't financially secure at the time of your death.
• "I haven't Gotten Around to It."
  Unless you have direct line to God, stop procrastinating.
• "The Coverage I Have With My Employer Is Sufficient."
  Typically, employers provide a modest amount of coverage, and you can't take it with you when you leave.

In the event of your untimely death, life insurance provides your family cash. This money can't replace you but it does replace your income and can help your family with their financial needs like living expenses, mortgage payments and college savings. Life insurance allows the financial plans you put in place to continue uninterrupted.

Ask yourself, does my family have the money to pay for my final expenses (e.g., funeral costs, medical bills, taxes, debts, lawyers' fees, etc.)? Would they be able to pay the rent or mortgage, food, clothing, transportation costs, healthcare, etc? Without your contribution to the household, would your surviving spouse be able to save enough money to put the kids through college or retire comfortably?

It's always a struggle when you lose someone you love. Your emotional struggles don't need to be compounded by financial difficulties. Life insurance helps make sure that the people you care about will be provided for financially, even if you're not there to care for them yourself.