A father is a strong figure in the family. It is a child’s idol, a helping hand, a warm embrace and many other things. We’d love to have our father around for as long as possible, but unfortunately, that isn’t always the case. As fathers grow older, time suddenly gets shorter.
We don’t plan for it to happen. Death can sneak up on anyone at any time. As Father’s Day comes closer, protect your family’s future for years to come. Speak with your father about life insurance. Here are a few reasons why life insurance is so important to help support the family and make that conversation just a bit easier.
Help Cover Loss of Income
Although times have shifted and women bring in more and more money, many households are still dependent on joint incomes.
So now picture a widowed mother who is trying to raise a family after her husband suddenly passed away without life insurance. More than likely the family is losing a significant portion of their income which would make it difficult to make ends meet.
Don’t let this happen to you and your family. Although you plan to have your father around for as long as you can imagine, you should always prepare for the unexpected. Make sure he has a life insurance policy that would cover the loss of income if his death were to occur suddenly.
It’s Insuring the Family’s Future
Is your father hesitant about insurance, needs more information or does not think it is worth the monthly premiums? Have you approached the topic in a way that says his life insurance is ensuring not just him, but the whole family?
That is the thing with life insurance. Although you purchase it for yourself, it is not you that benefits from it. The unfortunate part about life insurance is if the policy kicks in, it is because of your death.
But for a parent, it should be looked in a way that is helping to protect the future of their children. They are protecting the family’s financial future in case of an unexpected death occurs. The policy could pay funeral expenses, cover outstanding debt or help keep the family above water. So remind him that, although you hope it never gets used, his life insurance plan is a way of protecting his family’s future.
It Can Be More Than Insurance
Life insurance has additional benefits that you may have access to while still living. For example, some permanent life insurance products offer potential to grow cash value, which can be used during the insured’s lifetime.
Let the Family Carry On With Memories, Not Debt
Would you and the family be carrying on your father’s memories and legacy? Or would you be burdened with so much debt it is next to impossible to stay afloat? Let your father know that his life insurance policy would be a way to ease the family’s mind about the uncertain future. This would help ease the burden about finances while you grieve the loss of someone important in your life.
The topic of life insurance isn’t always an easy one to have. In fact, it can be quite uncomfortable. Death is why life insurance is around. But it is a meaningful conversation to have. Talk to your father about ways he is protecting his family’s future with life insurance.