Insurance Made SimpleFor when things get complicated
Why a Life Insurance Policy is a No Brainer
Tragedy can strike anyone at anytime
Here’s a little story about a friend of mine who had a rough go a few years back, and how she was extremely fortunate to have a life insurance policy in place when life took an unexpected detour.
Di was a wife and mother in her early 20’s when tragedy struck. They were living in a coastal town in southern Australia where Di, pregnant at the time, stayed at home with her young daughter and her husband who worked to provide for their new family. This was when they discovered that her husband was gravely ill. He was gone 6 months of surgery and hospital visits later. Di found herself raising a 2-year-old and a newborn daughter now only 3 months old, all on her own.
For months they made the 3-hour journey to the larger hospital where her husband could receive the surgery and care that he needed. They spent most of their time in hospitals, which saw the course of 2 open heart surgeries and recovery. They received social welfare benefits from the day he fell ill. He was totally incapacitated for work and from normal daily life. Money was tight.
Usually we can’t see it coming
Their income was limited, so they reached out to their insurance advisor. They simply had to cut back on expenses, and his whole life insurance policy had to go. Their advisor did his best to convince them not to cancel the policy, and even offered to pay the premiums himself. Luckily, he had seen this scenario before, and cancelling their policy was a financial disaster in the making. He simply would not let them cancel the policy. Di and her husband took their advisor’s advice and continued making their premium payments. For that bit of guidance, Di is forever grateful.
After a 6-month battle, her husband passed. She now had 2 daughters to care for, a mortgage on their home, and a cranky car that constantly needed repairs. While her mother lived an only hour away and of course invited her to return home with her daughters, Di wanted to do it herself. She did not want to raise her family within her mother’s house.
But there are things we can do to prepare, like investing in a life insurance policy.
Remember that insurance policy that they had struggled to continue paying for? Her advisor brought her the cheque and at the time, Di was unemotional. The money simply would not bring her husband back. What it did allow her to do was maintain her independence. It paid off the mortgage, it bought her a better car, and it allowed her to provide for her daughters in their new reality.
Most of all, having the insurance money gave Di the chance to heal. To grieve without having to worry about paying the bills, where to live, and how to get around. To give her daughters a chance to grow up together.
Insurance advisors always talk about preparing for the unexpected things in life. Planning so that if something does happen your family will be able to carry on somehow without you. Everyone always thinks that it can’t happen to them. People think that they’ll live a long life and an insurance policy is money that might be better spent elsewhere, until it happens to them. Can you even begin to imagine what’s Di’s life might have been like had there not been an insurance policy to help her?
A life insurance policy can give the ones we love get a second chance.
Today, Di is a successful coach and entrepreneur on two continents. She is a mother, a grandmother and a partner. Her advice? Life insurance is a ‘no brainer’. Unfortunately, that is the kind of advice that can only come from someone who has lived something like this.
Check out the full video here https://youtu.be/haLEBM3Ls5o
If you yourself have questions about how you and your loved might benefit a life insurance policy, there are a few different avenues to explore here. Our FAQ’s page offer some quick insights. You could sign up for our newsletter and receive a free pdf highlighting some common misconceptions about insurance. And of course, you can book a call. I am always happy to talk about this stuff because I believe it can make a real difference in people’s lives.