I saw a very alarming statistic the other day that said that 30 percent of U.S. households had no life insurance, which was up from 22 percent in 2004. Lack of life insurance is yet another casualty of the recession and sadly this number is the lowest it has been in 50 years. LIfe insurance as we all know is one of those things that is useless… unless we need it, which makes it easy to cut it first from our budget. After all, many of us have that “it will never happen to me” attitude.
Most people don’t know that after I lost my job as a fire fighter due to my injuries I sold life insurance (one of my several jobs as I was trying to find a new career identity). My friend Steph was my very first life insurance client. For the better part of a year before I did her policies, and before I even worked at the insurance company, we would always sit and talk about things that were important in life. We discussed our families, nutrition, finances, working out, our hobbies and so much more. She had mentioned several times she wanted to invest more and look into life insurance and always came to me for advice about it. Once I got my license to sell insurance, she came to me and said she was ready to buy and I signed her and her husband up.
Fast forward just over two years. Just before Thanksgiving this last year I got the news that this friend went missing where we used to live near Breckenridge, CO. A few days after the reports that she went missing came out, she was found dead along the banks of the river near her home. Her autopsy determined her death to be homicide by blunt force trauma and drowning. It was a stomach dropping, very sad day.
What I want to stress out of this horrible event is the importance of life insurance. I knew the second I got the news of her death that her family (she left behind a husband and 3 small children) would be ok. I was so thankful for those conversations we had and that she took my advice to get life insurance coverage. I knew her children would be able to go to college and I know for a fact it would have been ugly had they not had the life insurance.
There are several different types of life insurance that fit into all levels of budgets. I highly suggest contacting an agent with a reputable company to get some information if you don’t currently have life insurance. And if you do have insurance (the whole life/permanent kind in this case) and are wondering if it’s of use to you, for $80, the Consumer Federation of America will review it to see if it’s worth keeping (evaluatelifeinsurance.org).
For your family’s sake, don’t delay. Unfortunately, things happen, life happens, and so does death. Don’t you want to be protected and ensure your family is protected in the event of the unthinkable?