Wednesday, December 04, 2019

The Importance of Life Insurance: Real Life

Co-blogger Bob V tipped us to this important, all too common story:

"My husband is my caregiver, and spending $45 a month on his life insurance means I won't be alone if he dies."

Rebecca Chamaa was diagnosed with paranoid schizophrenia, and relies on her husband as her primary caregiver and advocate. If he were to die, she would need to be able to afford a full-time nurse (or equivalent), which can get pretty spendy. Hence, the importance of life insurance:

"Like many people, my husband had a small life insurance policy at work, but that policy wouldn't cover our mortgage or provide enough cash for me to stay in our home, pay for funeral expenses, and arrange for someone to help me with household tasks, or at a minimum some caregiving activities."

Very moving, very timely.
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