Additional Coverage:
Life Insurance: A Lifeline in Unexpected Circumstances
My stepfather’s dementia led him to forget mortgage payments, resulting in eviction for him and my mother. Thankfully, he had a $1.5 million life insurance policy. Using this policy as collateral, my mother secured a loan to cover his long-term care expenses.
Witnessing my mother’s struggle convinced me to purchase a $500,000 term life insurance policy. It costs only $28 a month and provides peace of mind.
My mother’s experience taught me that life insurance is not just about death benefits. It can serve as a valuable asset in unexpected situations, such as dementia or other debilitating conditions.
My wife will have options to provide for my care if something happens to me. I highly recommend considering life insurance to protect your loved ones financially.