I’m not going to put the shoe on anyone’s foot in particular, but with studies showing that there are 46 million adults who believe they need life insurance but still don’t have it, well, it’s safe to say that someone isn’t getting the picture.
If we take the old standard family model and assume there is a husband working and a home maker with a few kids then it becomes kind of a no brainer that the breadwinner should have life insurance to replace that bread they are winning if they die. This begs the question, “Which spouse doesn’t get it?” I know I go off on men….a lot, for not assuming it is their responsibility to have life insurance and quit jacking around and get it done, but that’s not necessarily the way us guy’s brains work. Would we take a bullet for our wife? Would we step between her and a charging bear? Would we do everything in our power to take care of her (and the kids) in sickness and in health? I think for most of us the answers are yes to those life and death things that assume we’re here, but that doesn’t mean it would occur to us to buy life insurance so that if we weren’t here they would still be taken care of. Money won’t take care of the bullet or the bear, but it will make the family financially whole again and able to get through the rough times and everyday life, both of which depended on your income.
So, there are generally two adult brains in these kind of relationships, so if it doesn’t occur to one, what about (in my old school family) the wife? Women are more intuitive when it comes to these things. They know you’ll take the bullet for them, but then they also understand that you are somewhat dead after that heroic gesture. It won’t be long before reality is driven home. Final expense bills come due and medical bills and when the final paycheck runs out, the rent or mortgage, food and other living expenses keep right on coming. We’ve all seen the newspaper articles saying that an account has been set up at a local bank to help the family. We all know that the chances of significant money being donated is relatively slim. So, obviously, it’s the women who need to take the lead in making sure their future is secure in case they really are married to someone who would jump in front of a bear.
It kind of reminds me of that saying, “Lead, Follow or Get Out of The Way“. No matter who initiates the life insurance conversation and whether your situation resembles my pretend family above, someone has to break the ice. The conversation has to happen. It is way too easy and far too inexpensive to get life insurance in place. Men, if you want to impress your wife, just go get it done. Women, let your husband know what life insurance means to you. I had a client recently who asked her husband to buy life insurance for their anniversary present and keeping it in force was all she wanted for future anniversaries.
Once the lines of communication are open, cover all the bases, because whether the second person is a homemaker or a second breadwinner, life insurance is financially justified. Women are just as likely to need life insurance as men.
Bottom line. We all know that death isn’t always fair and doesn’t always happen when we’re old and worn out. I’ve had a lot of clients die over the years and and the average age was 48. We’re not talking old folks although one was 82, but mostly these deaths were tragically unexpected. Way too soon. But for these there was life insurance and a chance to get the family feet back on the ground and move ahead. If you have any questions, or aren’t sure how to approach the subject of life insurance in your relationship, call or email me directly. My name is Ed Hinerman. Let’s talk.