How to protect your money against a huge loss
Many people are working with financial coaches to “get their financial house together.” They are getting out of debt; starting a savings and investment plan; and freeing up money to spend on things that will improve their lives.
People earning low, medium, and high incomes are all stepping up their financial game, under the watchful eyes of a good coach. We all need help (by the way – how do you think successful people become ultra successful? Oftentimes, with the help of a good coach!)
Once people reach the mount of financial stability, what’s the next step?For many, it has to be the purchase of life insurance. Why? Because the tragic loss of a spouse / co-parent / breadwinner / key person in the family business, could be devastating both emotionally and financially. Survivors will need a alot of time to go through the natural grieving process – especially children. Final expenses will have to be paid, and new expenses may be incurred to start life over.
If insufficient life insurance is in place, then the survivors may have to go back into debt, or liquidate savings. Doing so would put them right back to where they had been, before they got their house in order. And all their hard work with their coach, would have been erased.
That can all be avoided with a solid life insurance policy.