If you are dealing with a job loss, the pressure of mounting bills can be overwhelming. It’s a sobering experience, but one that reminds us how important it is to make sure our loved ones will be taken care of if we were to suddenly or unexpectedly die. While a job loss is temporary, the death of the family breadwinner or caregiver is not, which is why the protection of a life insurance policy is so essential.

A job loss usually prompts a review of the household budget, followed by the reduction or elimination of unnecessary expenses. Do not, however, make the regrettable mistake of including life insurance in this category. You’ll probably be living on your savings until you find a new job and if the savings run out, most people then start tapping into their investments. Just think about the difficulties you’d be leaving your family if you were to die before you had a chance to recover that cushion. How would the bills be paid?

If a life insurance policy was part of your former job’s benefit package, there are ways to convert it into an individual life insurance policy, but considering that most group plans (unless you are in the top 5% of key executives) have face values of just $10,000 - $25,000, it’s generally not worth the trouble. After all, that kind of money is only going to cover a funeral plus a few months of living expenses at the most.

During this time of uncertainty, there is at least one thing you can do to give you and your family some peace of mind about the future…protect their financial well-being with a life insurance policy.

My Insurance Expert has been assisting individuals and families with their insurance needs for over 30 years and has a team of licensed Advisors available for free one-on-one consultations