- Personal Finance»
Could your family survive without you around?
For some reason the question and topic of death and family arose last night at work. And it really hit home with me. Thus, it got me thinking about my life and the life I now share with my husband. You see we are recently married. The only thing we really have between us is our house, our car and our 3 dogs. But what if something happened to him? Would I be able to afford the house? Could I keep up with all the expenses? Such as the house payment, cable, electricity, Internet, dog food, groceries etc..... Now I know that things like cable and Internet are not necessities. So ultimately they shouldn't count on my list. But we rely on both of our incomes to manage this household. Granted we don't have tons of bills to pay every month. But, I'm a waitress, I work for a mere $2.28 an hour. So I rely on tips. And the less people tip, the less I make. So what would I do if something were to happen to my husband? Granted at the moment we aren't hurting financially like some households. We live a comfortable and modest life style. We have a savings and checking account. Granted neither are over flowing with money, but it's enough to sustain us for a month or two if one of us should happen to be off work or if something should happen like a death. But again I ask, what would I do and would I be able to do it on my own? The answer is NO. Without the income of my husband coming in I could not afford this house or our dogs.
So you have to stop and think. Could your family survive without you around? Would they be financially OK if something were to happen to you? Most American families could stop and answer this question with a no, because most American families are not prepared financially to survive if something were to happen to the primary wage earner in their families.
So what can you do to ensure that your family is taken care of in the instance that something were to happen to you? I'm sure that you are scratching your head and thinking long and hard about it now aren't you? If not you should be. Your family needs something to fall back on in the event that something should happen.
So I'm urging you to check into a life insurance policy. Yes I know you are probably thinking "Life Insurance?" YES Life Insurance! Life insurance can help with things such as funeral expenses, bills, loans, house payments, car payments and even your child's college education! Unfortunately life and health insurance are not a high priority on people's lists of things to get when they are purchasing insurance on things like houses, cars, businesses etc. But it should be. Because in the event that something should happen to that primary wage earner, the family could lose it all.
Financial security for your loved ones is a great goal for you and your family to persue. And life insurance is just one option to help your family in the case of an unexpected change.
If you are unfamiliar with life insurance and policies you can always Google it or Bing it or talk to your local insurance agent about it. There is lots to learn about different life insurance policies and what they could mean for you and your family. So I urge you not to put it off or wait another day. Because tomorrow isn't promised to me or to you.