• Life Insurance - Perhaps More than You Want to Know
  • January 6, 2014
  • Law Firm: Wyatt, Tarrant & Combs, LLP - Memphis Office
  • Life insurance is an integral part of most estate plans. For young adults, life insurance is principally purchased to replace lost earnings. When children are young, life insurance offers the surviving spouse options. No discussion with a surviving spouse is more difficult than the one which brings home the reality that not only have you lost a spouse, but you will likely lose the standard of living to which the family has become accustomed. Young families do not have the financial resources following the death of a parent to provide the children with the educational and developmental opportunities that were available during the lifetime of the parent. Explaining to a wife following the death of her husband that she must change her standard of living or re-enter the work force in order to provide for herself and her children adds additional pain to that produced by the death of the husband.