A lot of people wonder about the usefulness of life insurance. There are some who think that it is just something that rich people get when they want to leave their spouses and family a lot of money after their passing. But life insurance is not only for the rich. In fact, it is far more useful to the average person. It is the reason why civilian federal employees are offered FEGLI alternative plans that could be useful to them. There are life insurance options available to you, whether you are a federal employee or not.
The good news is that many people are starting to look at life insurance as not just protection, but an investment. It is important that we start to see life insurance as a key part of a retirement portfolio. But even if you are not thinking in investment terms, life insurance is useful. Say you have a whole life policy that is going to provide a benefit to your family when you pass away. You are just putting a little bit of money towards that policy each month. And if something were to happen to you, it is amazing that your family has a financial benefit coming their way.
It is about protecting your family. We can never know when we are going to pass away. Sometimes it is sudden. The last thing you want is your family being in a financial crisis at the same time they are mourning your death. At least with a life insurance policy, your spouse and kids will have the space to breathe and grieve. They will not feel as though the roof is closing in on them because the primary earner in the family has passed away. That is the gift that life insurance can give to many families.