Imagine the unimaginable–you’ve died.
In the prime of your life, years before you thought you would, you’ve died. You’ve likely left behind a spouse and children. Of course, they will grieve your loss terribly, but soon after you pass on they’ll be confronted by a harsh reality of life without your financial contribution.
How will your spouse survive and meet the bills? Will she have money to send the kids to college?
Unfortunately, financial considerations crop up soon after someone dies when the funeral needs to be planned.
Life goes on.
If you’re the primary breadwinner, life goes on for your family with much less money, unless you had life insurance in place.
Unfortunately, 30% of Americans have no life insurance. “Of the 35 million American households without life insurance, 11 million include children under 18″ (MSN). While dying in your prime is unlikely, it happens every day. My dad died when he was just 38, and my parents were woefully underinsured with life insurance. My mom has struggled financially since he died over 25 years ago.