Often when we think of life insurance, we think of the traditional family with kids, a house, and a dog. And while there’s a good reason families are synonymous with life insurance, there are so many other stages in our lives where we’ll need that security and reassurance too.
Take Michael. As a young single adult he thought life insurance was for… you know… other people.
That’s until his father sadly passed away, and because he didn’t have life insurance, the burden to look after his father’s funeral costs and outstanding bills fell to Michael and his family.
It made Michael realise that children or a spouse aren’t the only dependents we can have, so even if we’re single, we may have an aging parent or a sibling who relies on us, and who will be left to cover costs should we die.
“Being honest between myself and my family we’ve had to save up to try to pay it off and a nest egg I had built up has been decreased to nothing trying to settle the bills.”
And while we all like to think we’re going to live forever, we can’t deny that funeral costs are expensive. Couple that with bills, loans or a co-signed debt, and life insurance starts to make sense, fast.
Rather than put the responsibility and stress on our family, life insurance ensures our finances are taken care of, while others who may be dependent on our income are looked after.
Getting life insurance isn’t this scary thing
It’s quick, simple and easy – and once it’s done, that’s one big life stress gone.
For Michael, an Alpha Wealth client, it took the loss of his dad to reach that realisation.
“I know when I’ve spoken to some of my friends, they’re very much ‘you’re a single guy, why did you take out life insurance?’ and in the back of my mind I always think, if you’d only gone through what I have in the last 18 months.”
Alpha Wealth recognises that life insurance can be complicated, so we want to keep things simple.