Who needs it and why

A few weeks ago, a friend of mine experienced a life-altering event. It was just an ordinary evening when she and her husband had dinner together. After dinner, her husband went to take a shower. After a while, my friend realized he’d been in the bathroom way way too long. So she texted him, “Hey babe, you doing all right in there?” No response. So she knocks on the bathroom door and again, no response. She then opens the door to find him collapsed on the floor – a sudden heart attack. There were no tearful goodbyes, no more shared “I love yous,” no future family Christmases. Their golden years together were abruptly cut short. 

To make matters worse, she couldn’t afford the burial costs for her much too young husband, let alone ongoing expenses such as the house mortgage, car payments, utilities, and groceries. She found herself unprepared — financially and emotionally — to face the aftermath of this tragic event. 

Often, when we talk about the later years, we use the phrase “if I die” as if we have discovered the secret to eternal life. But here’s some tough love: none of us are getting out of this life alive. 

I want you to think about something. Most of us insure our car in case we have an accident. We buy health insurance in case we get sick. We buy homeowners insurance in case there’s a fire. But the one thing we know for certain that’s going to happen, we don’t cover.  

End of life planning is tough but necessary. Going through an end of life planning checklist can help you through difficult times before they even occur, such as what to do when a loved one dies or determining your life insurance needs before you realize it’s too late. 

As my friend’s story illustrates, life can change in an instant. So let’s be as prepared as possible because ironically, and sadly — it’s the one thing that costs you money when you don’t buy it.