The One Personal Finance Topic that may be too personal

The One Personal Finance Topic that may be too personal -

There is an issue of personal finances that may be too personal. It is the subject wants to write because reading about it leaves you feeling down. This topic is death. Death is the only thing we all have in common. No matter how much time we spend reading all the ways to ensure that you have a healthy financial future, you can not have a foolproof plan until you address the inevitable.
Why do you need? Life Insurance
Unfortunately, the best way I can explain this is to talk about those who do not have life insurance

Story 1 :
Today I was sent a Facebook invitation to help a family in need. They have a wonderful story, full of difficulties, but also with great joy. A husband and his wife had a heart for foster children, and went through the process of making twins who had been through the host system and placed with horrible abusive guards the two previous times. This time they were placed with a loving family who would do what was necessary to give these children a permanent home. The kids had a very difficult time adjusting, but after several years of relentless pursuit, parents love them as their own, the children finally felt part of a family for the first time. They were adopted into the family, a family that was now their forever.
A few months later, the husband went to the doctor because of some alarming symptoms, and it was discovered that he had a brain tumor at the end which was inoperable. In one year, he died, leaving his wife and two adopted children behind. As sad as this story is, what is most distressing is that they have spent all their savings fight against cancer, and were left with no money. There was no life insurance policy in place to cover the cost of his wife having to raise two children on her own without income. They have set up a donation page (which is the best way to help a family in this position), I wish this story could have been raised by the financial burden of a life insurance policy, but unfortunately, This is not the case.

Story 2:
When I was 5 years old, my father died of melanoma skin cancer. He was only 31 years old. When they found the cancer, it was already in step 5, meaning it had metastasized, entered his blood stream and was himself the whole plantation on his body. His diagnosis of terminal cancer put our family in a whirlwind, especially my mother. She had three children under 8 years old and her husband, the mainstay of the family, was about to die.
Fortunately, my father was an insurance salesman living who knew the value of getting a good long-term life policy in case something devastating thing should happen. Unfortunately, it also underestimated when he would leave this earth, and only signed for a $ 75,000 policy. My mother was able to pay for medical expenses and funeral with money, and not much to live.
The doctors made a mistake on his diagnosis a few years before, and called a mole "benign," when in reality it was stage 3 melanoma. A kind of trial arose, and my mother received money that ended up taking care of us for years to come (I even received an inheritance from him and blew all). But if this trial never came, the money to take care of us would not be here, and my mother would be in a financially desperate situation. We probably would have lost everything and moved with his parents or relative who could help as she tried to get back on its feet.
Why do not more people have life insurance?
According to an article on USA Today in 2010. "Only 44% of households have an individual life insurance policy, and 30% have no person or life insurance offered by the employer ... "They said that there were 11 million households with children under 18 who has no life insurance policy in place. The common refrain from those who chose not to buy a life insurance policy was that there was no financial priority. Whether the Downed economy, lack of knowledge, not wanting to face their mortality or just plain procrastination, it is clear that people do not feel that life insurance is enough to throw a few dollars priority one month.
What have we done?
We ended up signing me to a term life policy from 25 years to $ 1 million to $ 43 a month. I came up with that number by calculating how my wife would need to live indefinitely at an interest rate of 4%. It should first pay off the house and invest the rest, be able to live in interest alone and leaving out the main to provide passive income. After tithing, her monthly income would be $ 2,100 per month to the interest rate of 4%. Based on our budget, it covers all the line items in our budget, with some leeway as it gets adjusted to life without me. And believe me, just typing that sentence makes me feel sick to your stomach, but reinforces that we made the right decision in getting this policy.
This is important
You will die. This sentence should make you uncomfortable. I hope it makes you uncomfortable enough to get off your butt and look into getting a life insurance policy. It is one of the ways you can tell your family that you love them, and can continue to love, even if the worst happens imaginable. Please do not expect that my father did, and do not ignore that 30% of US households do. Set aside $ 30- $ 50 per month and give your family a reason to sleep well at night.