There are a ton of reasons why you need buy life insurance and that the longer you wait the higher the financial risk for your family
In this post today I will go over a detailed list of why you need to buy life insurance and why you should stop procrastinating about protecting your family's future.
Why Buy Life Insurance?
I have learned that life insurance isn't for yourself, it is for the people you leave behind, this has inspired my list of 15 reasons why you need life insurance.
1. To Protect A Special Needs Child
I have a brother and sister that are both autistic and even though they are currently teenagers, they still require a ton of supervision and attention.
I love them with all of my heart but I know that when my father passes away they would be in a very bad position if he didn’t have life insurance.
They have to go to special schools and take extra classes and really need someone that can take responsibility for them around the clock.
I don’t know if we consider this enough but according to care.com a nanny that has a focus on special needs children could cost up to $20.00 per hour.
The math on this type of care for 1 year can bankrupt the average family if they needed full-time care.
To watch my brother and sister for let’s say 6 hours per day would cost:
- $600 Per Week
- $2,400 Per Month
- $28,000 Per Year
If you are the person primarily responsible for any special needs child, not having life insurance is irresponsible at best.
Leaving kids without any financial support that can’t fend for themselves is just wrong.
I made sure my brother and sister were covered if something happens to my father.