Disclaimer: For those of you new to my site, my Mom passed away June 23rd, 2008. She left behind a husband at 62, her Mom at 92, 4 children, 4 Grandchildren and many friends. I am slowly dealing with the situation but have found myself in the role of sole caregiver for and power of attorney for both my Father and Grandmother. It's a mess and so am I.
Take a moment to think about everything you do for your family. Typically we undervalue our worth any time we are asked by saying "I'm just a Mom" so I ask you to think about all those roles you have in any given day ~ again.
For many the list looks something like this: Wife, Mother, Caregiver, Chef, Financial Officer, Maid, Household Manager, decorator, taxi, educational advisor etc.
Now think about how much it would cost to hire someone to do those jobs if you were gone? Would you or your husband be able to handle each of those roles alone in addition to working 40+ hours a week if the other should pass away before retirement?
Now take a moment to think about life insurance.
Do you have a policy?
Is it a individual policy or a joint policy?
If it's an individual policy, how much are you worth according to the policy?
Does your individual policy come close to how much it would cost to hire someone to do all the jobs you listed earlier?
If it's a joint policy do you realize both parties would have to pass before it can be collected on? How would that help you in you time of need if you were the survivor?
As you can already guess, Mom was grossly under-insured and the situation has left my Father upside down with funeral costs one year before retirement.
I know this is a difficult conversation to have with your husband (wife) but it's a conversation you can not afford not to have ... today.
Take a moment to think about everything you do for your family. Typically we undervalue our worth any time we are asked by saying "I'm just a Mom" so I ask you to think about all those roles you have in any given day ~ again.
For many the list looks something like this: Wife, Mother, Caregiver, Chef, Financial Officer, Maid, Household Manager, decorator, taxi, educational advisor etc.
Now think about how much it would cost to hire someone to do those jobs if you were gone? Would you or your husband be able to handle each of those roles alone in addition to working 40+ hours a week if the other should pass away before retirement?
Now take a moment to think about life insurance.
Do you have a policy?
Is it a individual policy or a joint policy?
If it's an individual policy, how much are you worth according to the policy?
Does your individual policy come close to how much it would cost to hire someone to do all the jobs you listed earlier?
If it's a joint policy do you realize both parties would have to pass before it can be collected on? How would that help you in you time of need if you were the survivor?
As you can already guess, Mom was grossly under-insured and the situation has left my Father upside down with funeral costs one year before retirement.
I know this is a difficult conversation to have with your husband (wife) but it's a conversation you can not afford not to have ... today.
