What Older People Want
Read More ⟶Family
Do my parents need life insurance?
The answer is yes. If your family depends on your parents for financial support, the answer is yes. If your family would struggle to pay the expenses associated with a funeral, the answer is yes. If your parents would like to leave a gift for children or grandchildren or a favorite charity, the answer is yes.
It’s worth talking about
Life insurance for your parents can be a good idea. It can also be a difficult subject to bring up. For me and my wife, we’re in the Sandwich Generation – we’re raising 4 young children and providing care for our parents. Trying to juggle emotion and grief, funeral planning and financial obligations along with the daily demands of young children is a lot for us to consider. It’s definitely stressful but having the conversation about end of life and insurance doesn’t have to be difficult with the right planning. Here are some suggestions:
“It may not be a fun conversation to have, but it’s best to have a plan in place for your family.”
Additional questions to consider
The point of final expense insurance is to ease the burden of surviving family members. Part of a well-designed plan involves an understanding of debts, savings, wills and end of life wishes. All of those items play a role in what kind of insurance to purchase and how much coverage is needed. Here are some conversations to have:
A little bit of planning can help prepare you for an important and meaningful conversation. Talk with your family and get the conversation started.