17 Jesse J

I learned through personal experience, how very important it is for everyone to be covered by life insurance.  Purchasing life insurance on yourself guarantees that your family will be provided for (financially) if you were to die.  This is even more important if you are a husband, father, or the main bread winner of your family.    This is a difficult subject for many, as it is not a pleasant topic to think of death, especially your own death.  But it is necessary to have a preparedness plan  for your family, so that they will be able to go on living their lives without you and without your income.  Losing their main source of income, they may have problems  paying the monthly mortgage, utility bills, car payments, and purchasing food and clothes.  They need money for household repairs, maintenance and updating and such.

I was 12 years old when my Dad died very suddenly and unexpectedly at age 52, and my Mom and I’s lives were forever changed from that moment on.  When my Dad died, I felt like I lost a part of myself as well.   My Dad was a long time employee of  US Airways and was an active employee at the time of his death.  My Mom also works, and carries our family’s health insurance benefits through her employer.  And although she likes her job, she does not earn a large salary.  I am very thankful that my parents had considered the needs of their family and invested in an individual  insurance policy.  Additionally, because my Dad was an active employee at the time of his death, he was provided a life insurance policy through his employer.  I don’t know what we would have done if my Dad hadn’t thought of his family’s future and made sure these insurance policies were in place.   It is at times quite difficult even with having these insurance policies.  When considering if you need insurance,  and if so, how much insurance do you need.  The answer for everyone is – Yes, you definitely need insurance and a basic rule of thumb is that the death benefit on your insurance policy should equal seven to ten times the amount of your annual salary.   You want to have enough insurance coverage so that your family is well provided for.  You need to take into consideration many things, including:  the age of your children – are they in day care, or pre-school, which is quite costly;  are they in private school or parochial school which requires tuition payments?  Are they currently or will they be attending college?  This can be a huge financial burden for any family, but especially for a family that has lost its main source of income.  Also to consider are things such as:  do you have a car loan, do you have any personal loans, do you have credit card debt, as well as many other things.  For some families, if the wife has been a stay-at- home Mom raising the children, she may find it necessary to get out into the work force so that she can help provide income for her family.  The Mom is now not only on her own in raising their children, but also in providing the income for her family’s survival.  This may cause much stress and anxiety for her.

My Dad and I had a very close relationship.  We both loved sports and played golf together  – I was blest to have such a wonderful Dad.  I treasure all the loving memories we made together.  I try to focus on those good times rather than the pain, sorrow and hurt of not having him with me anymore.   Going to college has been a huge financial strain on my Mom and I, but we know that I need to continue my education so that I can be prepared to seek and find a good career that I enjoy and which will allow me to provide well for my family.     With only my Mom’s income, money is tight, but we try to watch our spending and do the best we can to make ends meet.  We are applying for scholarships, so that I won’t be buried in student loan debt after college, and I work part time while attending college.   It is very important for parents to have insurance to ensure the financial security of their family in the event of their untimely passing.  Just as bad as or even worse than the financial struggles, are the emotional issues.   I never stop missing my Dad, and it seems to be especially difficult during any of life’s big events as I wish my Dad were here to share in the joy of these events.  The pain and emptiness of missing him never goes away, but I believe that we must accept this terrible loss so that we can move forward with life.   I try to live my life in a way that would make my Dad proud,  and in doing so, I am able to honor his memory.  I believe that I will one day be re-united with my Dad in Heaven and it will be a glorious reunion. Losing someone you love is never easy, but having insurance coverage can make a very difficult time just a little easier.

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