A seemingly healthy person’s human nature and own psyche tells us that death is well at the bottom of our day to day worries and concerns. We rarely think of it nor ponder the consequences…….the financial consequences. Emotional consequences are a given and almost known at such a terrible time. But what about when the emotions are coupled with an uncertain financial future. The mortgage, the kids education, the past family lifestyle, debt and more.
Life insurance isn’t an indemnity against many of the emotions felt at the loss of a loved one but it certainly alleviates a critical factor that could lead to financial stress. The realty is that life does go on. The bills still come in, the cost of living continues and life’s challengers continue.
It is important that both partners plan and consider what would happen if something happened to one. If the main breadwinner died, the life insurance should be adequate enough to replace that income to a degree by allowing investment to replace income – life insurance does this. If the partner responsible for ‘home duties’ died then the breadwinner has 2 choices. Re shuffle work and life to allow enough time to undertake the duties of the departed – not always possible or practical – life insurance can help here also.
Families need life insurance and they need it done correctly and purposefully. Many things need to be considered and many things are not usually factored in so getting the right advice – professional advice is a must. We know what matters and how to determine a true, fair and affordable premium and with access to just about every life insurance company at our fingertips we are well placed to ensure the best possible outcome.
When buying life insurance you are effectively buying dollars for cents. The cost of life insurance is extremely low when related to the benefit.