Is Your Personal Bailout in Place?

When you are drowning in debt…

that is when you need term life insurance the most. Here’s why…

During these trying economic times, many Americans are asking, “Where’s my bailout?”

The government now owns General Motors and has spent trillions of dollars rescuing AIG and banks like Countrywide, but it is still up to each of use to create our own family bailout plan.

Term life insurance is an essential part of your family’s bailout plan. When times are tough, that is when you truly need the essential safety net that life insurance provides.

Over many years in the insurance industry, I’ve counseled hundreds of families who were in debt. Some of them were having severe financial problems and even considering bankruptcy. One of the things I’ve learned is that when you are drowning in debt, that is when the need for term life insurance is the greatest.

When the economy is booming, many families have generous savings accounts, a number of investments including their 401k, stocks and bonds. Often, both spouses are working. They have plenty of equity in their homes and may have other assets such as expensive cars or fine jewelry that they can sell if necessary.

A family in that position needs term life insurance, but they are in a far better position than a debt-ridden family. They have good credit that can tide them over – at least for a short while -- if tragedy strikes. They can raise cash or raid the savings account if they must, or take out a home equity loan.

All of those alternatives disappear when families are deep in debt.

When times are tough, one spouse may be unemployed. Jobs are hard to find in this economy, and good jobs are even harder to find. Families are less likely to have extensive savings. Their 401k accounts may already have been tapped for emergencies. If the breadwinner passes away, the loss of income combined with financial pressures can be catastrophic.

The debt-ridden family needs the safety net that term life insurance provides, more than ever. When times are tough, the relatively small amount of money spent on term life provides a world of security for your family.

We all know that we should have health insurance all the time, but especially when we are sick. By the same token, term life insurance is always important – but especially so when we are facing debt or financial problems.

Don’t delay – take this important step to protect your family by purchasing affordable, hassle-free life term insurance coverage today at

Merry Christmas & Happy New Year from

Insurance Agent From Shares Insider Tips to Saving Money on Term Life Insurance