In a family, there are many ways to manage our finances. We can allocate part of our income for life insurance. The function of life insurance is to reduce or minimize the adverse effects of family economic losses due to death.
In the family, there are no standard rules about which family member must be insured first. All family members are entitled to be insured. But let's think about it. A wife can continue to cook for her family because her husband gives her salary money to spend on food. Then their children can still go to school because of a father's salary to pay for their children's education costs. The lights, tv, radio at home can stay on because of a husband's salary to pay the electricity bill. And there are many more things that can be paid from a husband's salary.
So what would happen if a husband had an accident and died on his way home after a long day of work? So we can be sure there will be a lot of costs in the family that will be disrupted. The wife can no longer buy groceries. Their children can no longer go to school. No one pays for electricity bills. That will happen if a breadwinner never plans to prepare life insurance for himself.
If a husband has prepared life insurance for himself. So if there is a risk of life such as death, the financial losses that will befall the family will be overcome. Through life insurance benefits, the wife can still buy groceries for the family. Their children can still go to school. Electricity, tv, telephone, radio can still work.
Then what if a woman does not have a husband? So she should be insured. Because there are still many costs that she must bear. If she has a family, there are children who must still go to school if there is a risk to her.
Indeed, life insurance cannot replace the lives of people who have died. But life insurance can reduce financial losses due to death and reduce the financial burden on families when the breadwinner dies.
