Money Trees Really Do Exist
If you are like me, I am sure your parents or grandparents told you on more than one occasion that money doesn’t grow on trees. But, if a money tree did actually exist and you owned one, what would you do to protect it? Personally, I would have the tree in some type of enclosure to make sure it wasn’t visible to the general public and shelter it from the weather elements. I would also hire security guards to defend against theft and the best horticulturist to make sure the money tree didn’t die. If you honestly stop and think about it, anyone that earns an income in the household is your money tree. This leads to the question, what steps have you taken to protect your family’s income against the unexpected?
Income can be lost as a result of an individual’s negligent act, which is why liability insurance exists. One could become disabled, thus the need for disability insurance. Death plays a significant role in the loss of a family’s income, which is why everyone needs to consider purchasing life insurance. I know that death is an uncomfortable subject, but unfortunately it is reality – and having a plan in place can provide comfort against life’s uncertainties.
There are two main reasons to buy life insurance: You owe somebody, or you love somebody, and in most cases it’s both. Proceeds from life insurance policies are typically used to pay off debts, such as mortgages, vehicles loans, credit cards and student loans. Other uses are to continue to cover funeral costs, child-care expenses, provide an emergency fund and to make sure sons and daughters still have the opportunity to go to college. Another oft-overlooked priority in purchasing life insurance is to replace a jobholder’s income. Today, most households are dependent upon two incomes, which makes it imperative to have a plan in the event one of those is lost. One of the greatest love letters that could ever be written to those that are dependent upon us and our incomes is a life insurance policy, which will continue to meet the obligations we have to our families long after we are gone.
Farm Bureau agents offer confidential insurance reviews to help individuals and families personalize an insurance program to protect the things that matter most. Call or stop by your local Farm Bureau office for a free, no obligation insurance check-up today.
– Alan Williams