The recent and unexpected death of popular personalities, Michael Jackson and Billy Mays reminded all of us people in the world (or at least those who know them), that life on earth is anything but eternal.  We will never know when the angel of death will come knocking, but one thing’s for sure, death is something that’s always just around the corner.

However, Jackson and Mays not only emphasized such a philosophy, but also some practicality.  Their sudden death must have left their families at a loss and devastated, but surely they did not leave them with any financial difficulty, considering that they were prominent people in a high-paying industry.  But how about the ordinary families whose breadwinners have jobs that earn them just enough to pay the rent, and suddenly they get into a car accident or cardiac arrest, which puts an end to their lives?

Yes, you are probably now imagining how a plain housewife who takes care of two small kids, still suffering the loss of a loved one, would struggle to pay funeral arrangements, and then later on, monthly electricity and phone bills, and other day-to-day expenses.  When her savings account has been exhausted, she resorts to her credit cards, which sometime soon she would also have to pay for.

Death is inevitable and that’s the reality.  The reason why some people are hesitant to purchase life insurance is their unwillingness to consider their own mortality.  Millions of American adults do not carry any form of life insurance for other reasons, such as cost and a misconception that life insurance is too complicated.

If they only know, life insurance is very simple.  There’s a kind called “term life insurance,” a preferred low-cost alternative to permanent insurance, which provides coverage anywhere from 1 to 30 years; it’s your choice.  Your beneficiaries shall be covered in case you pass away anytime within the time period you’ve chosen.  Otherwise, it just expires.  The average rate of $500,000 in coverage for a healthy 40-year old is worth less the $30 a month.