Part of the Sandwich Generation? Life Insurance Can Help

There are many reasons life insurance is important to someone in the "sandwich generation". So what is the "sandwich generation"? This term refers to those of us who have our own children to care for, and are also providing care for our parents. With today's economy, many households now consist of three generations of family members living under one roof. How would these three generations continue to stay together in the "family" home should you no longer be there.

We need to ensure that in the event of our passing, there is a plan in place that would provide for our family members,spouses,children and aging parents or other relatives. This plan can consist of making sure the mortgage could be paid off and that there is enough money left so that your spouse can continue to support not only themselves, your children, but also your parents. This invaluable gift isn't hard to pu in place,in fact,all it requires is a little time spent with a reputable life insurance provider.

First, we need to ensure there is enough <a href="http://www.pivot.com/Learning-Center/Life-Insurance-Calculator">life insurance </a>in place so that any existing mortgage could be paid off. By doing this, the entire family unit can rest comfortably knowing that they will have a home to continue to live in. Wouldn't you feel better knowing that if you were to pass away, your family won't be displaced? It's a situation no one wants to see their loved ones face in the wake of a loss.

Second, should you pass away, can your spouse survive on their own income (if there is one) or would they be up the proverbial creek without a paddle? Ideally, by protecting your annual salary by 10 times its amount with life insurance, your spouse and family can continue to live in the comfort they are accustomed. And now, your spouse has the financial security necessary to continue to care for the parent(s) living in the home.

These are just two reasons of many reasons that someone in the "sandwich generation" should consider having <a href="http://www.pivot.com/Learning-Center/Life-Insurance-Calculator">life insurance</a>. Aren't your parents worth your providing for their care in their golden years? Just remember, these are the parents who made sure that you were cared for as a child. They did what they could for you when you were financially unable to and now that you are an adult, can't you provide a little security for them?