Business_news After my cousin was killed, life insurance made a world of difference for my family

Business_news

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  • When my cousin was murdered two years ago, I found out that my aunt had taken out a life insurance policy on him.
  • I was taken aback, but somehow she knew it was the right thing to do. Having that policy helped ensure she could grieve after all of the details of his funeral were taken care of.
  • My mom also has a life insurance policy on me, and I understand why — you never know what can happen. That’s why I think young people need to protect themselves with life insurance.
  • Policygenius can help you compare life insurance policies to find the right coverage for you, at the right price »

My cousin Ahmad was murdered two years ago, and it stunned me because we were the same age. To witness his death in our late 20s really shook me — it’s something I never thought would happen. No matter the circumstances, there’s absolutely no way to prepare for death.

Before that, I thought of life insurance as something that youacquired in your late 40s or early 50s, but I soon found out that my aunt already hadlife insuranceon my cousin. I was taken aback. She said she’d gotten it a few months prior, although she was hesitant. However, it ended up being necessary. Parents always seem to know what’s best for us, during and after life. 

I recall finding out years earlier that my mom had life insurance on my siblings and me. I initially felt it was a negative thing — a sort of preparation for a premature death. But after my cousin’s death, my mom’s reasoning resonated clearly. No one wants to bury their child, but if it has to be done, you at least want to have the means to do so properly.

The policy my mom has on me, which she purchased in 2016, will last until I’m 95 and is worth $60,000. If my mother were to pass away before me, I would become the owner of the policy. Themonthly costis $35.35, which includes a guaranteeddeath benefitand is pretty affordable considering thecost of a typical funeral(around $8,000-$10,000 or more). Mylife insurancecould have been a few dollars cheaper a month, but because I have a predetermined health condition (mental illness), which is considered a disability, the numbers went up by $10. 

Business_news What life insurance meant for my family

Reflecting on my cousin’s death, I now realize that my aunt wasn’t able to begin to grieve until after all the logistics of the funeral were handled. Life insurance helped ensure she was able to do that. I also think of the milestone birthdays that my cousin will never get to experience (he would have been 31 this year), his son he’ll never be able to watch grow up, and his daughter he was never able to meet. And because of it, I never take for granted that I am granted another day. 

So this is for all you 20- and 30-somethings out there who feel invincible like I once did: Don’t go about life thinking life insurance is only for the elderly. Protect yourself and your family by ensuring that they don’t have to resort to creating a GoFundMe page or opening a Cash App account to bury you if your time comes sooner than expected. It’s better to be prepared for the worst than surprised by the demise.

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