British fashion designer Alexander McQueen was known for his unexpected style, and many were shocked at the news of his equally unexpected death Thursday morning. A favorite of celebrities such as Sarah Jessica Parker, Rihanna and Lady Gaga, the loss of the relatively young (40) designer was felt by many.
While McQueen was wealthy at the time of his death, such is not the case for most Americans. For middle and working class families that have a home mortgage loan, car payments and several other bills each month, an untimely death to a family’s breadwinner can really hurt a family’s income. Suddenly, a single parent is forced into a tighter budget. In this economy and housing market, that person’s death might even lead to a home foreclosure. That is why all families should think about getting a good life insurance policy.
According to the Center for Disease Control and Prevention, the average life expectancy in the United States is 77-years-old. Most people don’t think they’ll die in their early 40s, but an unexpected death can leave families reeling. A good life insurance policy will alleviate many of those fears by helping you prepare for the unexpected.
Finding the Right Insurance Policy for Your Family
The right life insurance policy will be different for each person — you won’t find a one-size-fits-all model. Here are some resources to help you pick out the best life insurance policy for you and your family:
- How Much Life Insurance Do You Need?
- Life Insurance Coverage Checklist
- Life Insurance Primer: Term Insurance & Permanent Insurance
Do You Have a Life Insurance Policy for Your Family?
An unexpected death is hard enough on family and friends, but having a good life insurance plan can ensure that your family’s finances will not be hurt. By taking a few simple steps today to review or expand your coverage, you can make sure that you and your loved ones are protected.
Still have questions about finding the life insurance policy that’s right for you? Leave a comment and we’ll respond!
This is actually a very good topic. Recently I bought life insurance in addition to the existing policies that my FT job offers. I discovered that I really did not have enough to cover my family in the case of sudden death. A qualified insurance rep from NYLife walked me through the numbers. It involves taking up two afternoons to review the numbers and solutions BUT IT WAS WELL WORTH IT! I now have peace of mind, and in the event of losing my job (God forbid that happens to anyone) my family will still be covered!Recommend getting additional life insurance to anyone!