The New Orleans - Mississippi and the Gulf Coast disaster are unbelievably horrific. The images that are plastered across the TV set and the internet are just plain scary, and are of the nature that will affect our personal fabric.

The New Orleans disaster has had a profound effect on the way I'm looking at life these days.

LIFE INSURANCE BENEFITS:
I can't think of a better example to illustrate the advantages of have life insurance than the New Orleans - Mississippi and the Gulf Coast disaster. There are thousands of people who have died, and possibly more at the time of this writing who are going to die because of one horrible reason or another.

There are American refugees who have been relocated all over the country. These people will be stranded and with out a place to live for a while until they can organize the funds to relocate and make alternative plans.

YOU NEED LIFE INSURANCE FOR INCOME REPLACEMENT.
Although the Hurricane Katrina disaster is a rarity, it shows in a mass scale the affects of what happens when you have no income replacement. What happens when you have loved ones die and cannot take care of yourself.

PEOPLE IN THE HOUSTON ASTRODOME
There are thousands of people who are stranded who have lost their source of income and livelihood. Even if both spouses were fully working before, and they are in a refugee camp like the Astrodome, they still need money and work to rebuild their lives.

These people have bills to pay, and credit card debt to pay. They still have mortgages to repay. Hopefully mortgage owners and renters whose houses and personal possessions were destroyed will have house and property insurance.

In a regular setting this is why people need life insurance. If a loved one dies, it could cause the same amount of problems and stress for

IT'S A MATTER OF MONEY AT THIS POINT
The people who have been displaced and who have cash reserve funds, retirement funds, mutual funds, savings in the bank, or anything that is easily converted to cash will have a much better time of it. These prepared people will be easily able to rent or purchase a house in a new city. They'll be able to purchase food and the other necessities. They'll be able to sustain themselves in a higher degree of control than those who weren't prepared financially.

PEOPLE WITH NO CASH ARE GOING TO HAVE TROUBLE
The crisis victims who have no life insurance benefits, house and property insurance, other coverage, and don't have any cash reserves or savings in the bank are in serious trouble.

The people who have no cash or other resources will be at the mercy of governments, non-profit organizations such as red cross, united way, and kind businesses and people who are willing to help.

For some people, a death benefit may be their only source of cash at this point. If a loved one has died because of the hurricane, and they have a paid up policy, their loved ones will get an immediate direct benefit. It may mean the difference between starting a 'nicer' new life and just getting by for the rest of their lives.

Articles from November 2006
More articles from Year 2006

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