I grew up in the same home with my grandparents; my mother’s parents. I idealized them. My grandfather had thick white hair and no teeth……to this day I am loyal to my dentist from fear of losing my teeth. They owned property, planned for retirement, had wills, burial plots, saved money, and were supporters of life insurance.
They taught me many life lessons – always tell the truth, how to get the best deal, prepare for all of life’s contingencies. But, my grandfather was of the school where insurance was important and every family should invest. Not when they had the money but when they became a family.
When I was a mere 22 having just been married my grandfather invited an insurance agent to my home to go over life insurance. He insisted both Art and I have coverage. I remember the visit like it was yesterday. How boring it was; the actuarial details, questionnaires, etc., and my grandfather hovering. No matter what we said he was not letting the agent leave until we each had a policy. He would have made a great life insurance agent….
This month I’m joining the exclusive club of 50 and above- as I cry in my soup over this monumental occasion- I’m reminded of how lucky I really am. I have a great husband, son I adore, a loving family, a good job. I’m truly blessed. But, as I reflect on life and my health, I realize how important the decision to buy insurance was. What did my grandfather know that I didn’t know??? Simple, he knew that you had to prepare for the unexpected!
Sure we have life insurance, the insurance we bought 30 years ago, the policies we bought later, and policies we got from our jobs. If I didn’t have these policies I’d have nothing to leave my family. I think about the probability of Art having to sell the house- the only home our son has known. Liquidating investments to pay for medical expense and/or a funeral. Where would they be without my income? Who would care for Michael after school or transport him to sports? How would Art pay for college or a wedding? What would those extra expense look like? Even with the coverage I have it probably is still not enough.
My lesson is that you should prepare for the unexpected. Consider what would happen to your family if you became sick or passed away. Buy a product where your future insurability is protected. Buy life insurance.