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Most of us do not give life insurance the priority it needs.
Many of us do not feel it is necessary, as we never believe
the worst can happen to us, and therefore, don't plan for the
worst. In the long run it is those we care about the most who
suffer due to our lack of foresight.
The problem in this area is that most people think that by having their properties insured their families would be sufficiently taken care of. Many also believe that the insurance taken out by their employees, which is roughly 3 - 4 times their annual salary, will be more than sufficient to support their family if they are no longer around. This though is not necessarily the case, especially in an unexpected death when there are young children who need to be supported. This scenario can have a disastrous effect on those left behind, not only financially but emotionally as well.
The monthly costs are minimal especially if you are young and planning for any eventuality. |
