“Now I lay me down to sleep, I pray the Lord my soul to keep. If I should die before I wake, I pray the Lord my soul to take.” Millions the world over have recited this simple bedtime prayer with the hope that the next day would greet them with open arms. This simplistic illustration of trust in the generosity of fate becomes more complicated when we are faced with the issue of mortality.
Death is not a pleasant subject for most people, which explains why millions of people die each year without the necessary instruments that protect their families from financial devastation. The topic of life insurance is one that unveils the reality of mortality. At no other time, is it more profound that death is a part of life.
At least 64 percent of men have some form of life insurance, compared with 59 percent of women, according to the nonprofit Life and Health Insurance Foundation for Education (LIFE). According to the most recent statistics by the Life Insurance Marketing Research Association (LIMRA), the gap between coverage is about two to one. The average death benefit for men is $143,100, compared to $76,000 for women.
Most Americans are underinsured, but the problem is worse among women," said Jon Dressner, Vice President for LIFE." Many women underestimate the value of the services they perform in the home. And life insurance for the working mom is sometimes not considered when the husband is the primary wage earner. But in both cases, the family would be greatly affected if Mom's contributions were lost."
It is not a luxury to have life insurance, it is a necessity. With the average cost of funerals nearing the $10,000 mark, unprepared, the family can suffer significant financial setbacks. A rule of thumb that my company, Mega Capital Resources, recommends for those considering a policy is to get enough coverage that will equate to 8-10 times your current income. This will ensure enough coverage to take care of your current expenses including, mortgage, college, and credit card debt.
Nothing can replace the loss of life of a loved one. Your responsibility is to act now and should the Lord take your soul before you wake, you will know that your family knew how much you loved them and cared for their well-being. For your FREE Confidential Financial Needs Analysis, email Kim Harris, Principal Partner, at Mega Capital Resources or, call 1-888-429-4654 Ext. 149. This in-depth questionnaire will help you to determine your family financial needs and prepare you to pass on a legacy of love.