July 7, 2009 I represent many young families. These are couples in their twenties to early forties with small children and small estates. Typically, they have no home or a home with limited equity. Their major concern, after nominating a guardian for their children, is how would the family cope financially if one of them were to die unexpectedly. Life insurance is a fantastic tool for these families. While they remain relatively young and healthy, life insurance can be inexpensive and easy to qualify for. I recommend obtaining life insurance sufficient to care for your spouse and children for a period of two years without that spouse working. It’s difficult to overstate the debilitating effect the grieving process can have on a young family. For two years, free your spouse from the need to (1) work to pay bills and (2) obtain and pay for outside child care. By obtaining a term life policy for $500,000, $1 million, or even $2 million, a young parent can make sure that their spouse and children are well cared for while they recover. Please understand – I don’t sell life insurance and I make no money off referrals to life insurance agents. I’ve just seen how limited assets can compound the devastation of a young person’s sudden death. Another type of insurance to consider while you’re young is long-term care and disability insurance, to cover events that disable a parent without causing death. If you can’t decide what type of insurance you might need, or the levels needed, call the Law Office of Daniel K. Printz, or a local life insurance specialist!