If there is one thing we can count on, it is that our time on this earth is limited. Bills, everyday life, unexpected expenses, and a lack of financial education has rendered many sectors of society unprepared for the inevitable.
We see GoFundMe accounts created to assist with final expenses and family support when a tragedy occurs claiming a life unexpectedly. We donate, share the links, but is it ever really enough? Is there something that could have prevented this need, something that could make sure the family could bury their loved one with dignity, something that would make sure that now single mother can continue to provide for her children? The answer is Yes. Life insurance.
Life insurance pays out in case of death but that is not where the benefit ends. There are forms of life insurance that build cash value, do not expire, and that not only pay out in death but also if the insured gets sick. There's even insurance for people with significant health issues such as Cancer, HIV, and Diabetes. If you can't afford to set aside $25/$50/$100 per month now how are you going to pay for an $8000 (or more) funeral when the time comes? How will your family survive if you pass and they no longer have your income to depend on?
There is something for every budget but the need to establish a plan for the future must be prioritized. We at The Maverick Firm are committed to providing the financial education, options, and guidance necessary to plan and establish financial legacies.