Should You Buy Life Insurance?
Well, actually that depends completely on you, your personal
needs and your concerns for the financial needs of others that
are dependent on you.
Life Insurance: Are you married, Guy?
The husband in a family almost always has a need for life insurance
coverage. Oh, there are obviously exceptions but, for the most
part, you'll usually find the husband in a family situation
should have some kind of life insurance.
First is the obvious example of a husband in a situation where
the wife is a stay-at-home-mom and is totally and completely
dependent on the income that the husband is bringing in for
being able to feed, cloth and take care of their children.
Should the husband in this situation die then the obvious immediate
dilemma is where will the money come from for paying for all
of the expenses associated with a funeral for the husband, the
groceries for next week, the doctor visit if one or more of
the children suddenly become ill (and certainly that is a distinct
possibility with all of the stress of a death in the immediate
family) and all of the medical bills that will suddenly become
a burden as a result of the husbands illness or injury that
caused his death.
Life Insurance or Charity?
Will friends and family get the wife and children through the
initial financial crunch? Almost certainly. But, not always.
And, even if the money is loaned to the wife she'll almost certainly
feel a moral obligation of some kind to pay it back. What will
she do without the support of an adequately large life insurance
policy to see her through the crisis?
The caring husband in this situation will obviously want to
make sure that their are some significant proceeds coming forth
from the life insurance policy that he has purchased to help
his family when he dies.
Unfortunately, there are many husbands who, when approached
by a life insurance agent, frequently as the result of the encouragement
of the prospective policyholder's wife, immediately adopt an
attitude of, "Why? She'll just get married to someone else
and they'll be living happy on the money from my life insurance
policy. No way!"
Life Insurance Proceeds
This situation is encountered frequently enough to rule out
the possibility that it is always in a situation where there
is a bad marriage. In a bad marriage a statement such as this
on the merits of life insurance might be somewhat understandable,
especially if there are no children involved, but this very
negative attitude by a husband occurs enough to know that there
are many men who love their wives but view the purchase of life
insurance pragmatically enough that they find it easy to separate
the emotional bond from the financial bond and genuinely believe
that their wives are going to immediately run out and "find
a man to take care of them".
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Buying
Life Insurance