I represent many young families. These are couples in their twenties to early forties with small children and small estates. Typically, they have no home or a home with limited equity. Their major concern, after nominating a guardian for their children, is how would the family cope financially if one of them were to die unexpectedly.
Life insurance is a fantastic tool for these families. While they remain relatively young and healthy, life insurance can be inexpensive and easy to qualify for.
We recommend obtaining life insurance sufficient to care for your spouse and children for a period of two years without that spouse working. It’s difficult to overstate the debilitating effect the grieving process can have on a young family. For two years, free your spouse from the need to (1) work to pay bills and (2) obtain and pay for outside child care. By obtaining a term life policy for $500,000, $1 million, or even $2 million, a young parent can make sure that their spouse and children are well cared for while they recover.
Please understand – we don’t sell life insurance and we make no money off referrals to life insurance agents. We’ve just seen how limited assets can compound the devastation of a young person’s sudden death.
Another type of insurance to consider while you’re young is long-term care and disability insurance, to cover events that disable a parent without causing death.
If you can’t decide what type of insurance you might need, or the levels needed, call the Law Office of Daniel K. Printz at (858) 740-4370, or a local life insurance specialist!
DANIEL K. PRINTZ, ESQ. 