Like many people these days, Robert is looking for ways to trim the family budget. He is buying second hand clothes, he is shopping at the open market and even stopped eating out. But unlike most people, he is saving so as to pay for his wife’s funeral, pay education for his two children and still manage the rent.
The 40-year-old banker from the city lost his wife in July. And that was just four days after she gave birth to their third child. “You go to the hospital to have a baby, and then this,” he says. “You never know what life will throw at you.”
The unexpectedly single father-of-three has a ksh80, 000 funeral bill and many medical expenses that he has to pay from his pocket because he has no health insurance.
Roberts’s wife, Sue, 36, had an emergency C-section because of complications from her high blood pressure condition. The surgery went well, Robert said, and baby Daniel was born without a problem.
But Sue contacted a bacterial infection not long after the operation thus causing pneumonia. Sue died four days after the birth. “It’s so unfair,” he said.
With a newborn and two other kids, Robert has his hands full. His daughter, Alice, is 10-years-old and his son, Robin, is 17. His extended family and friends have pitched in and are caring for the baby during the day but this does little to cater for everything.
Being a banker, Robert knew and understood insurance. But they never got around to getting life insurance as money was tight. With his wife, they figured that they were young and they could live a little longer without it.
Who should get life insurance?
A great deal of people may tend to think they do not need life insurance. They’re young, their children are young and they’re all in good health. They might even feel the odds are in their favor and the likelihood of a fatal accident is slim.
Not to bust your bubble but think about it. What would happen to your family if you never made it home from work today?
If you were to die, would they be able to continue to live in the same house, and still be able to make the rent or mortgage payment? How can you be sure that you can provide for your family even after you’ve left earth?
Well, through life insurance, you can make sure your family is protected, even in the event of your death. Consider it your last act of love and kindness that you can perform.
If someone will suffer financially when you die, chances are you need life insurance.
Life insurance provides cash to your family after your death. This cash (known as the death benefit) replaces your income and can help your family meet many important financial needs like funeral costs, daily living expenses and college funding.
Most people never realize the expenses that come with the death of the people we love.
The death of a loved one is always a shock without all the bills that come piled up in your mailbox even weeks after your loved one passes away.
The dead in many Kenyan communities are revered meaning funerals cost money. Paying for the funeral home, buying a casket or paying for cremation, the plaque and catering for the festivities of celebrating death of a loved one are all expenses that may weigh heavily on your family.
This is not to mention the hospital bill. Hospital bill, as many can attest to, can be very expensive. Most hospitals will send a bill a couple of weeks after the incident. Don’t be surprised if the bill seems very expensive, it cost a lot for their services.
Families are left short on income due to days spent away from the office or in a household where both spouses worked and one of them died.
Life insurance may be one of the most important purchases you’ll ever make. In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children’s education, protect your spouse’s retirement plans, and much more.
The truth is, it’s always a struggle when you lose someone you love.
But your emotional struggles don’t need to be compounded by financial difficulties.
Life insurance helps make sure that the people you care about will be provided for financially, even if you’re not there to care for them yourself.