There are many people who believe that life insurance is an unnecessary expense. The reality is that your life insurance policy can provide your family with the finances they need in order to help cover expenses after you have passed away. Fictional characters can provide good examples about who needs life insurance, and who might not need it.
Many people avoid thinking about life insurance because it makes them uncomfortable. No one wants to focus on their own mortality, or to consider what life would be like without their spouse. As a result, there are a lot of families who do not have the protection of life insurance. You might be more comfortable pondering whether or not fictional characters should get a life insurance policy.
The movie “Breaking Dawn” is the last part of the “Twilight” series. In the last movie, Edward and Bella get married, and then have a baby. Typically, it is a good idea for newlyweds to get a life insurance policy on each of them, (especially if they have become parents).
Life insurance provides finances that can pay for the policyholder’s funeral expenses, and some medical bills. The death benefit can be used to pay off the remainder of a mortgage, and keep the surviving spouse and child living in the manner to which they were accustomed to, before the policyholder died.
In order to be approved for a life insurance policy, a person must undergo, and pass, a physical. Since Edward is a vampire, and Bella becomes one, it is unlikely that either one of them will be approved for a life insurance policy. If they somehow were approved, they will need to remember to renew that policy, (often), because they are going to live longer than when the policy term ends.
The Simpsons are a family. Homer and Marge are married, and they have three children: Bart, Lisa, and Maggie. Homer has a job at a nuclear power plant, and Marge is a “homemaker”. This couple has three dependents.
Homer absolutely needs a life insurance policy. His family is surviving on just his income, (which would disappear if he died). His life insurance policy could help Marge and the kids pay off the mortgage, so they won’t lose their house.
Marge also needs a life insurance policy, even though she is unemployed. If Marge died, then Homer would probably end up paying someone to take over the duties that Marge was providing for free.
He would have to come up with the money for before and after school care for Bart and Lisa, and daycare for Maggie. He might need to hire a maid to clean the house. Marge’s life insurance policy could provide the finances that Homer would need to keep the family comfortable.
The kids do not need a life insurance policy because they don’t have any dependents. They are all too young to be married, and also too young to have children. However, some parents will start a life insurance policy for their children when the kids are young, that the child can continue to pay the premiums on it when he or she becomes an adult.
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