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Life Insurance for the Entire Family

Many Americans think of life insurance as an option for the breadwinner in the family.  It makes sense to get life insurance for every member of the family.  We are always putting our family first, and insuring each family member ensures everyone is protected in case of a tragedy.

Life insurance is just as important for a spouse who stays home.  A death benefit for this type of individual can go towards childcare, housekeeping, taking time off of work and funeral expenses.  This makes sense because spouse's really work together to make the family unit work well.  You really have to stop and think about all of the services you would need help with if your spouse was no longer around.  You could pay for everything with a quality life insurance policy.

Many think it's also a good idea to take out life insurance policies on each child.  Not only can they possibly carry this policy into adulthood, but some programs have the policy accumulate value that can be taken out at cash value.  This can really pay off for your child's future.  A life insurance policy for your child can also allow you to take some extended time off of work for emotional reasons.  It's valuable to at least have that option without having to worry about how finances would be covered.  Also, if your child were to come down with a pre-existing condition, it might make them uninsurable and having a policy in place would be valuable.

Bottom line, you need to look at life insurance from multiple angles, not just as paying the mortgage if the breadwinner passes away.

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