Tuesday, September 1st, 2009
Handling insurance in uncertain times
“Times are a bit tough right now, so we’re cutting back on the non-essentials. I’m thinking of dropping my life insurance – because I hope I don’t need it! – and picking it up again when times are better.”
While it’s tempting to think of life insurance as a “non-essential”, it’s not. If you think you can’t afford the premiums, look at it this way: you are so reliant on the income you do have, that you need to sustain it! That means, your life insurance premiums are essential, not discretionary spending.
Having life insurance doesn’t mean you’re going to use it; but if the worst does befall you, your family’s future won’t crumble. (more…)