In 2013, my dad lost his battle with cancer. Throughout the years, my dad and I always talked about his finances and such. He had also mentioned to me that he no longer had a life insurance policy, something he had let go of when he had retired. He had always told me that one day soon he would write down everything I needed to know such as his wishes, investments, where to go and what to do.
Well, unfortunatley he never got around to it. So my brother, sister and I had to go on a scavenger hunt and go by what we "thought" would be his wishes. Much to our surprise, he did have a small life insurance policy in place that at least paid for the funeral. What a blessing!
I know my dad had every intention in taking care of his affairs and writing that letter, but time ran out before he accomplished that task. If I learned anything from that moment in life, it's that a life insurance policy, no matter the dollar amount, can help your loved ones. Secondly, don't wait until tomorrow to prepare a plan to ensure your final wishes. You might not have tomorrow.