Canceling life insurance
October 16, 2017
I’m Miriam Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money
M I recently met a new widow. Though her faith is vibrant, she’s struggling in many areas. Not the least of which is her finances. She revealed a sad fact. Just days before her husbands unexpected death, he had canceled his life insurance policy with her permission.
V What seemed like a frugal move at the time is changing her reality today. Fortunately her adult son sat with her and they created a stringent budget. She cringed telling me about it. Budgets may need trimming, but that’s an item to keep. Term life insurance is a reasonable choice.
M Our advice, keep life insurance policies current and paid. There’s always another discretionary area that can be trimmed.