Sure, buying life insurance can be a gamble, but choosing not to purchase insurance is basically like
betting against yourself. There is simply too much that could go wrong.
If you still feel that life insurance is not a good idea, then check out these horrific scenarios of
people left with insane burdens sue to a lack of life insurance:
Young Death, Heavy Bills
While most feel that they don’t need life insurance until they get older, buying life insurance while
you’re still young and healthy is the best thing you can do. A family man about age 35, decided to ignore
his insurance man and skip the life insurance policy he recommended. He was young, healthy, and financially
stable, why would he need this? Well, a few months pass by and the man suffers an unexpected heart attack.
While he was physical fit, his arteries failed him, and caused him a tragic death. He left his young daughter
and wife with no death benefit to cover the funeral costs, the bills, and the income that he was bringing in.
Now, the wife is struggling to pay off the bills from the hospital, the funeral costs, and support the small
family. Don’t be fooled, life insurance is a good idea at any age.
You’re Insured, But How About The Kids?
While your kids may be fully covered in the unfortunate case of your early death, did you ever think about
getting them coverage? No parent ever wants to think about the possibility of their child passing away,
especially not at such a young age, but there is always the possibility of a devastation illness or tragedy
occurring that could leave the family in shambles and out of money. There was once a married couple with a
family of three children. Both the parents had excellent life insurance policies to cover themselves and
their family in case of emergency, but there was a situation that neither of them had prepared for: their
youngest diagnosed with cancer. While they were able to take out some money to cover the medical costs, and
the chemo treatments, their son’s health continued to worsen. After about 2 years battling with the demonic
disease, their son passed away, leaving them distraught with a hefty bill. Unfortunately, they soon came to a
cap on their insurance, and couldn’t afford to continue paying their premiums. While they were insured, their
son was not, and if he had been, they could have been able to receive much more to pay off the medical bills
and funeral costs, and keep the rest of their family, happy, healthy, and insured. This tragic occurrence is
never expected, but can tear down a family’s well-being in a short period of time.
Does Your Employer-Based Insurance Cut It?
Many people assume that the coverage they are receiving from heir employer is sufficient to protect their
family in case of emergency. However, when you are the primary funder of your family, you need to keep in
mind all the costs that need to be covered in the case of your unexpected death, Not only will you have to be
able to provide for funeral costs and medical bills, but you will have to consider how much money it will
take to support your family for a while after your death. Typically, your employer-based insurance does not
amount to the coverage you should have.
While not having enough coverage with your employer-based insurance is scary enough, think about what
happens if you lose your job. With this unpredictable economy the market is undecipherable, and who knows
when the business may flop or let you go, even if you are a well-respected and honorable member of the
company. Not all, but most employer-based insurance only applies to you if you are still working for the
company. If you were fired, laid off, or quit, you may not be eligible to receive any benefits, and you may
be insurance free. Just imagine if you got in a car accident on your way home from work after hearing the bad
news that you were laid off. Your family will be unprepared to deal with the payment, and your lack or income
will make your family at risk of losing everything. Yikes!
Make sure that you have life insurance that covers all of your needs to protect yourself and your family
in case of emergency. You do not want to gamble with your family’s well-being!