Okay…so I am going to pretend that all of you reading this do in fact have a life insurance policy. You planned accordingly and know what you final expenses will be and underst and the importance of providing for and protecting your loved ones after you are gone. From the day you signed up for the policy, you have made the payments accordingly and faithfully. Good for you!
Did you know that not everyone is like that? A friend of mine recently told me she was thinking about cancelling her policy, because she can’t afford the payment. She said he budget is too tight and she is living month-to-month on her paychecks.
I am no stranger to finances being tight. I too have lived month-to-month and barely squeaked by. The economy has been tough on all of us. However, life insurance is not something that you cancel or stop paying on. There is always another option to consider. For example, that fancy latte that you are buying everyday on the way to work. You spend more on that than the average monthly premium. Buy a coffee pot. Make coffee at home. Keep the premium. That is just one example. I am sure there are plenty of frivolous items we all could cut out of our spending.
Your life and the coverage of your loved ones is WAY more important that a foofoo latte or a new blu-ray.