Avoid This Mistake with Your Family’s Future

Make sure you
are not making the mistake of going without life insurance in an effort to save
money. The perceived cost savings, now, could put your family at risk of
financial devastation should you or your spouse die.  The latest 
Trends in Life Insurance Study conducted by LIMRA found that 4 out of 10 households with children under 18
said they would have immediate difficulties in meeting their living expenses if
one of the primary wage earners in the family died. To add to the scary numbers
above, 3 out of 10 families only have enough in savings for a few months of
expenses and would have difficulties keeping up with their financial
obligations once their savings ran out.

If life insurance coverage is not yet a
part of your long-term financial plan, you are not the only one.  Nearly one-third of American households have
no life insurance protection.  This
reflects a five decade high in the number of families that are neither covered
by an employer life insurance plan, nor have taken out a plan on their own.

So what gives? What is causing the decline in people buying
life insurance? The most logical explanation is the current economic times.
Employer-sponsored life insurance programs may have found their way to the
proverbial shedder in the sky as companies look to manage their profitability
in these lean financial times. Individual households may have opted to discontinue
or not get life insurance as they try to pinch pennies and make their dollars
last longer.

One needs to take a step back and ask the hard questions,
however, when planning for his or her family’s financial future. With funeral
costs averaging $7,000 – $10,000, if you are one of the many Americans who are
living paycheck to paycheck each month, where will the money come from to pay
that expense? Could your family afford it? How would they pay off any debts
that you leave behind? How would they manage to pay their day-to-day expenses
in the months after your death?

Now that you have a glimpse of the possibilities, be
proactive with your family’s financial future. For less than the cost of one
fast food meal for a family of 4 each month, you could get comprehensive life
insurance to protect both you and your family. The insurance agents at Barker,
Beck, Collins and Kronauge Agency are happy to help get you started in protected
your family with life insurance. Call us today to gain your sense of security and
then…. go have fun with your family.