When you think of gifts for those you know and love, what comes to mind? Do you think about a box of candy or cookies? What about clothes? Gift cards to the mall? There are a lot of things that come to mind when you are talking about gifts for people.
What about life insurance? The initial reaction for many people when you mention life insurance as a gift is a step back.
How morbid, they think.
While it may seem that way when you first mention it, if you think about it life insurance is a really thoughtful gift that can be a savior in a tough time.
The problem with life insurance is the perception.
Many people think life insurance only kicks in when someone dies, so you are wishing something bad to happen to that person, or at least think it will.
This is not true.
Life insurance is a precautionary measure.
Think of it like going to the doctor for preventative care.
When you have an exam to check for diseases and ailments, you don't think you have them, you just want to be checked, in case they happen so you know what to do.
Life insurance is much the same.
It doesn't mean you are looking forward to someone dying, but being prepared just in case.
New Family Members One of the times you may want to purchase life insurance for someone is when a family has a new baby.
There are a few reasons for this: First, There could be an accident at any time that would cause the baby to die.
If that were the case, the policy you have purchased may be enough to take some of the financial strain off the family, covering funeral expenses or whatnot, while they are already dealing with horrible grief.
If not, the baby grows up and is already ahead of the curve with a life insurance policy in place.
The second reason to consider life insurance for a baby is that it is much cheaper when you are young, as the younger you are, the less likely you are to die by statistics.
Newlyweds Another group that is ripe for gifting life insurance to is newlyweds.
They are combining their lives, getting a home and all the other things families purchase together.
But if something were to happen to one of them, the other many be in deep financial trouble trying to keep it all going alone.
A life insurance policy may be able to help them keep the family going forward.
As nontraditional as it may be, life insurance is a wise present to purchase for many people.
While they may hope they never have to use it, their loved ones will appreciate it if that should become necessary.