464270cbead242b3b094caf48feab1c5My dad worked hard for our family.  When my parents were first married, he worked as a meat cutter.  Later, he worked in a factory so he could earn a higher wage.  Whenever there was an opportunity to work overtime, he did.  He also created side jobs for extra income such as cutting downed trees on our three acres of land and selling the cords of wood.

He never missed work. . .until he got sick.  For three months we didn’t know what was wrong with him until he got the diagnosis–advanced colon cancer.  He died just 3.5 months later.  He was 38.

While my parents did not have as much life insurance as they needed, they did, thankfully, have some.  There was enough insurance to pay off our home, leaving my mom debt free.  There was enough insurance leftover to cover about two years’ worth of living expenses, which was just enough time for my mom to find a full-time job.  (She had been a stay at home mom for nearly 20 years, so finding a full-time job did take time.)

Thanks to this experience, my husband and I bought life insurance soon after Bookworm was born, when he was just nine months old.  However, I realize now that we were lucky.  We shouldn’t have waited so long.

A Pregnant Wife Loses Her Husband

I belong to a number of Facebook groups, and through those groups, I learned of a family tragedy this spring.  A newlywed couple was expecting their first child in just 1.5 months when the husband, only 24 years old, was fatally shot while taking his morning walk.

He died before his daughter was born and before he could celebrate his first wedding anniversary.

Most people would not think to buy life insurance at such a young age.

Even I, a recipient of the benefit of life insurance, did not think to buy life insurance until after my first child was born.  If something tragic had happened to my husband while I was pregnant, I could have been in the same situation as this woman.

I don’t know if she and her husband had life insurance.  I hope that they did.

However, because her story was well known in Facebook groups and through the media, many people donated to her and her unborn daughter.  She will have financial security for years to come and she will have time to grieve without being concerned about finances.

Most people who experience a loss do not receive hundreds of thousands of dollars in donations.  Life insurance is a way to protect your family, to give your family time to grieve, and to help them get on their feet.  Thankfully my mom had two years to get settled in a new career and to be able to support my brother and me.

Life Insurance Doesn’t Have to Be as Intimidating as You Think

People often do not have life insurance because they find the process intimidating, or they argue that they won’t have the money to pay for life insurance.  The truth is that term life insurance can comfortably fit within most people’s budgets.  For instance, my husband and I pay less than $75 a month for our twenty year term policies worth a total of 5x our annual income.

If you’re not sure how much life insurance you need, why not try State Farm’s Life Needs Calculator?  This website asks you a variety of questions to assess your life insurance needs such as how many kids you have, how much you take home yearly, what life insurance you already have, and whether or not you intend to pay for your children’s college education.  I used the calculator and was pleasantly surprised.  I knew we needed to add to our current life insurance that we bought 10 years ago to be adequately covered, but the calculator helped me see that I only need half of what I thought we needed!

If you’d like to know more about buying life insurance, a great place to start is with the YouTube video State Farm recently created:

Do you have life insurance?  Have you been the recipient of life insurance?

Disclosure: This blog post was written as part of a sponsored program for State Farm to raise awareness about the importance of life insurance. All views expressed are entirely my own, and were not influenced or directed by State Farm. You can learn more about this blogger program and life insurance at GoodNeighbors.com, PlantingMoneySeeds.com, and by following #StartLiving on Twitter.

Related Posts Plugin for WordPress, Blogger...