Mind, Body, and Soul is sponsored content.
Whether you’re a recent grad in your 20s, married with a mortgage in your 30s or planning your estate in your 60s, you’re likely to have three things in common with people in every age group:
1. There are people in your life whom you love.
2. You have plans.
3. You can't predict the future.
Plans - we all have them.
It may be to move to a new home, do some travelling with our children, sitting around a campfire roasting marshmallows, going for walks with friends, planning for our future and maybe wondering about the future for our children.
We all have plans and we all have people we love. However, we can't predict the future. So, how do we address #1 & #2 when we can't control #3?
That’s where life insurance comes in. While you can’t tell exactly when or how
your life will end, you can prepare for the possibility and help protect the people you love in the process. Having the right life insurance can give you the peace of mind that comes with knowing the people you care about, can have financial support even if you are not there for them. Life insurance is a Protector of Plans.
Most people think that life insurance is only beneficial in the event of a death. That is not the case. Life insurance can have many different functions and purposes. Over the next number of weeks I would like to outline some of the different uses for life insurance.
Today:
Family protection.
This is the function of life insurance that most people think of and it is extremely important. So, what's in it for the people that are left behind?
- It replaces the income that you were bringing home. This becomes the pay cheque. Without something to replace your income, life becomes very difficult. The plans you had for your family will not likely be realized.
- Pays off the mortgage and other debts. Leaving debts to those that are left behind is not fair to them.
- Education funding. Perhaps you had planned to, or were contributing to an education account for your children. The insurance payout can assure that this desire of yours can be accomplished.
- Covering final expenses. Finances should be the least of the stressors at this time, for those that are left behind.
Chances are you will live a full life. However, as #3 states, we can't predict the future. You and your family have plans. Help your family live the best life they can even if you are not around to share in those plans. This is a gift of love to those you love.
If you're not sure how your family would fare if you weren't around, give us a call at Fresh Ground Financial.
We'd like you to - Sleep Easy at Night.
