Do you Love Life Insurance?
The love month often means that special gifts are on everybody’s mind. What can I get that was better than last year’s gift? This Valentine’s Day you probably showered your loved ones with gifts that were sweet, funny, playful, romantic, and thoughtful–but what about gifts of security? Though the special day has come and gone, why not consider giving a gift that will secure your spouse and your family’s financial future? Making sure they are protected for the years to come can be the most thoughtful and loving gift you can give. Here are a few things you and your spouse should consider:
- The premium payments for life insurance may be a small sacrifice now, but it will be a huge benefit of your spouse and your children. Should you pass on before them, it is a net they can land on to ensure that they will be in a good place financially. Death is already difficult enough to bear, the financial strain that it can cause may be avoided today through the gift of life insurance.
- You should still consider life insurance even if you are a double income household. Many believe that only families with a single provider should consider life insurance, because the person who manages the home technically does not bring in income. If your family relies on two incomes for all its day to day expenses, the loss of one income can be a burden. Some people think they will simply downsize, but downsizing might not be an option or might take too long.
- Life insurance isn’t just for the affluent. In fact, if there is anyone who will benefit the most from financial security, it is the average family whose income doesn’t go very much past their budget each month.
Find the right timing when you talk to your spouse. If life insurance is your idea, but you are afraid that the topic might be too sensitive, make sure that the setting is right. It’s not a discussion you can have in passing when you’re driving to dinner orunloading the groceries. Some have found it to be helpful to bring up the topic during birthdays, as one grows older. Make sure you provide enough time to have a good discussion without any distractions, such as kids needing help or upcoming appointments or work.