By Joel McKinnon
As humans, naturally we tend avoid things, we put things off, and we “will get to it tomorrow.” We avoid discussions with our kids “because that won’t happen to them” – we use phrases like “That wont happen to me” -“That won’t happen to our family” – “We are to young” – “those types of things don’t happen where we live” – “I AM GOING TO LIVE FOREVER” – Acting, speaking, and thinking like this causes us to suffer from what I like to call “SUPERMAN SYNDROME” ie. thinking everything bad happens to other people, and nothing bad will ever happen to your family.
Although you may not say the exact words listed above, and you may not live a lifestyle that would be consistent of “Superman,” most Americans act like they are “Superman” when it comes to life insurance and protecting the future of their families. “95 Million people do not have any Life insurance – 70% of those 95 million people plan on buying life insurance within the next 12 months BUT never make the call.”
Life insurance is simply the most important insurance your family can have – yet so many americans fail to either have it, or fail to have enough.
If you were to add up all of the money you spend I would imagine you could easily find $50 per month that you blow on meaningless “things” – We would rather smoke, chew, drink, have our coffee or soda, energy drink or milkshake – we spend hundreds if not thousands on cell phones and other technology items yet we FAIL to protect our families, we fail to protect what makes all of these things possible YOU & your income!
Rather than rambling on about this topic I am going to list a few items below – I would encourage you to think about these items apply them to you and your family and really think about the position your family would be in if you were no longer around – Lets face it, unless you are Superman, at some point something “bad” could happen to your family – take the time to be prepared – “Life insurance is NOT for you its for those you leave behind.”
1. Look at your current debt (aside from your mortgage) – Cars, credit cards, and other financial obligations – How would your spouse fair having to pay these off if you were gone?
2. Income – We typically build a life style around our income – if suddenly your income was missing from the household how would this impact the family? Could kids play travel sports, could your family afford food, Gas, clothes?
3. Mortgage – if you die could your spouse afford the mortgage on their income alone? would they have to sell the house? how awful – first you pass now your family loses their home? Could they afford rent elsewhere? Where would they go?
4. Everything else your family would need – Education costs, Funeral expense, entertainment money – Where would your family be without you and your income?
Point being – we insure our homes, vehicles, collections, motorcycles, jewelry, but what about the “THING” that makes all of that possible, what about the “THING” that provides all of these things? What about YOU? What if YOU are gone? What if YOUR INCOME is no longer around? YOUR family protected? Are you living a SUPERMAN LIFE? “Kryptonite” is everywhere please do not set your family up for failure by living like you are “Superman!”