|
NEW YORK (AP) - Millions of Americans have no life insurance or are seriously underinsured and that could translate to big financial problems for their loved ones if they die unexpectedly.
"Nobody wants to think about dying," said David F. Woods, president of the LIFE Foundation in Arlington, Va. "People know they need life insurance, but they figure they'll get to getting it someday — just not today. It's something they put off."
But putting off investing in life insurance can trigger a financial catastrophe for the survivors of a family's breadwinner or its primary caregiver. The odds are they'll be hard-pressed trying to continue rent or mortgage payments, cover child-care and eldercare costs, or fund college savings plans.
|