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What Would Happen To Your Family Without Life Insurance

life insurance

Are you the major breadwinner in your family?

If so, what would become of your family if you were to suddenly and unexpectedly die? Do you have an appropriate plan including an adequate life insurance policy in place for this eventuality? Sadly, most people do not.

Do you know what typically happens when a premature death of a sole or major breadwinner occurs in a family?

It has been shown that 75 percent of surviving family members will have to take measures to meet financial obligations. They will have to work additional jobs or longer hours. They’ll have to borrow money or withdraw money from savings and investment accounts. And, very likely, they’ll have to move to smaller, less expensive housing. That’s because even if there is life insurance coverage, it is usually insufficient to continue to provide the lifestyle the family and loved ones have grown accustomed to.

September was Life Insurance Awareness Month.

Awareness is the first step to understanding and knowledge. If you have a life insurance policy, now’s a good time to review your policy to make sure it is sufficient to provide for your loved ones in the case of your sudden death. If you don’t, there is no better time to explore your options.

Life insurance can be a life-saving financial instrument for your loved ones. It is an important aspect of just about any long-term asset and protection plan. Call The Elder & Disability Law Firm of Victoria L. Collier, PC for a free 15-minute telephone consultation. We will schedule an appointment to help you determine how much and what kind of insurance is right for you and your budget.