Life insurance

Life insurance can be a touchy topic for many reasons, but we should really understand whether we need it and if so, how much do we need?  A few weeks back I was talking to one of my best friends about this vary topic and it did change my perspective for the better.  Previous to this discussion, I felt it was best to get the cheapest life insurance policy available because I am healthy and do not feel that I am going anywhere anytime soon.  Instead of using the few extra dollars on life insurance, I felt I could better use this money by putting it toward investments.  Here is my friend’s perspective, which I do agree with…

“For a few extra dollars a month you are able to get a much better life insurance policy that will cover your funeral expenses, mortgage, children’s college, and then some.  You never know what will happen in the future, so you should equip yourself with the best protection possible for your family’s sake.”

A few extra dollars per month can possibly give you coverage in the $1 million range, which is astounding.  Currently, if I pay nothing my company will provide me with one year worth of salary or if I die on the job, I will get three times my salary.  Even though it sounds like a good amount, life does get expensive and it simply would just not be enough to help my family out.

Since I fly on airplanes quite often, I do not like talking about this topic because it is scary.  I would rather talk about more positive things, but life happens, or should I say death happens.  We do not live forever and we should be thinking about our loved ones.  Try not to put it off too long!

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