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Individual Responsibility

February 10, 2015

Recently, I have read about some tragic events happening to noble people that have been killed while performing their public service jobs.  Some occurred through accidents and some were murdered by dastardly people.  In response to news reports that include information that they left a young family with high mortgages and have little or no savings, people rush to contribute to special funds established to pay off the mortgage and create college funds for the children.

This is very honorable and admirable especially since the tragic circumstances of their deaths can only evoke sympathy by all of us who are indebted to these public servants and who also believe in fair play and decency.

However, I have a problem with the family being left destitute.  Doesn’t the main breadwinner of the family have a responsibility to make sure this doesn’t occur if there should be an untimely death?  I also apply these thoughts to any head of a family that would be left in a position where their family could not maintain the life style decided on when they were active and well.

There is an easy, low-cost way to protect the family from an unforeseen and untimely death and that is with fixed premium guaranteed term life insurance for a period of 20 to 30 years.  The purpose of the insurance is to provide funds should the unmentionable occur.  Bare-bones term insurance can be very inexpensive – for example $1 million coverage for a 30 year old is not more than $40 per month for 20 year coverage and $70 for 30 years; for a 40 year old $60 per month for 20 years and $100 for a 30 year policy.  All of these are less than the cost of a meal in a nice restaurant.  And, the family is protected. 

Once taken, you should pray to God that you will be “wasting” your money and the benefits will never be paid.  This adoption of family protection is a responsibility that cannot and should not be delegated – it is an individual responsibility and certainly very affordable for any family leader.

2 Comments leave one →
  1. February 10, 2015 8:42 pm

    I so concur so much. The concept should also be extended to Not-For-profit organizations that need special fund raisers because of unanticipated uninsured losses. For some of these organizations these losses happen on a more regular basis than they want to admit.

  2. February 12, 2015 11:22 pm

    Excellent post. Personal responsibility is just not taken seriously by so much of society. Taking a 20 or 30 year term policy in your youth is a no-brainer.

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