Life Insurance: It’s Not for You, It’s for Them
Life Insurance: It’s Not for You, It’s for Them
For a long stretch of my adult life, I made plenty of normal financial mistakes—lost time, missed opportunities, and lessons learned the hard way. Like most people, I didn’t get everything right. But one decision I did get right was making sure my family would be financially protected if something happened to me.
That decision centers on a topic most people avoid. Life insurance isn’t something we like to talk about. It’s uncomfortable and forces us to think about worst-case scenarios. But as a financial coach—and as a husband and parent—I don’t see life insurance as a “death benefit.” I see it as a love letter written in numbers.
The Foundation of a Strong Financial Plan
I often ask people to imagine building a beautiful financial house—your income, savings, investments, and career. Now imagine that house sitting on a sinkhole. Without life insurance, one unexpected event can wipe out everything your family depends on.
Here’s what life insurance actually does:
Replaces Your Income
If you weren’t here tomorrow, could your family maintain their lifestyle? Life insurance helps ensure the mortgage is paid, bills are covered, and daily life can continue without immediate financial panic.
Protects Your Children’s Future
For parents, few fears are bigger than not being there for their kids. Life insurance can help preserve education plans and long-term opportunities, even if you’re not around to provide them.
Prevents Debt From Becoming a Burden
Shared credit cards, co-signed loans, and certain business debts don’t always disappear. Life insurance helps prevent financial stress from being passed on alongside grief.
Creates Peace of Mind
When you know your family is protected, your mental load gets lighter. You make clearer decisions, take smarter risks, and sleep better knowing the “what ifs” are already handled.
How Much Coverage Is Enough?
A simple starting point I often use with clients is the DIME formula:
Debt – What you currently owe
Income – Years of income your family would need
Mortgage – Remaining home balance
Education – Future costs for your children
It’s not about perfection. It’s about preparedness.
The Bottom Line
Life insurance isn’t about you. It’s about the people you love having stability, dignity, and choices—no matter what happens. It’s one of the most selfless pieces of a solid financial plan.
If you’re unsure whether your financial foundation is truly protecting the people who matter most, that’s a conversation worth having. I help individuals and business owners bring clarity to their numbers—from cash flow and bookkeeping to long-term planning—so nothing important is left to chance.
Not sure if you're over-insured or under-protected? Let’s look at your 'DIME' numbers together.
