While a sensitive topic, it is prudent to contemplate the financial impact that would result with the death of a spouse, and to take steps to ensure that the family is well protected.
Loss of life can occur suddenly and indiscriminately, and can strike a family at a time when maximum financial support may be required.
While it may be difficult to imagine, how would your life change if your spouse were to die unexpectedly? Are you financially prepared and protected in the event of an early loss of life?
If a spouse works either full-time or part-time, it is easy to see how the loss of household income warrants insurance coverage to maintain your lifestyle. What may not be immediately apparent, however, is the financial impact caused by the untimely death of a stay-at-home spouse, especially if children are affected.
While a stay-at-home spouse may provide no direct income, his or her duties and responsibilities within the home often result in a significant amount of cost mitigation. Expenses can therefore add up quickly following a death, and the financial impact can consume any savings a family may have. Why take this risk when insurance is available?
Here are some of the costs that may be incurred following the untimely death of a stay-at-home spouse.
These are just some of the struggles grieving families must face in the event of the untimely death of a spouse. The focus following a death should be on recovery and the bereavement process, not on financial hardship. Ensure your family is financially protected.