web analytics
September 3, 2015 / 19 Elul, 5775
At a Glance
Blogs
Sponsored Post


The Greatest Gift You Could Leave Your Family

Do you ever read those heartrending flyers that appear in your mailbox, telling you terrible stories of how a family was left totally financially bereft when one parent died or became permanently disabled? Each story is a tragedy in itself. A parent died in dreadful circumstances, maybe from an accident or due to a serious illness, and now the remaining spouse and children are left broke, with no means of financial support. It must be truly very painful for each family to have to rely on the mercy of the public to be able to survive.

Of course, the stories are not only about the financial disaster that is left behind. The strains of getting over such a bereavement, caring for a large family all alone, and maybe dealing with the trauma of a sudden, unexpected death or injury all have their effects on a family. Many of these effects are unavoidable and inevitable, but there are some parts of these stories that could be alleviated to a certain extent.

No one ever knows what is going to happen in life. When you get married, for example, you hope that the marriage will last, that both of you will always be healthy and able to support your children for as long as necessary, and that no one will ever be the victim of a serious accident or disability. However talented we may be, prophecy is not a common talent, and the future remains an open book. While you can’t plan the future, there are certain measures that you can take that will alleviate the effects of a possible disaster.

I can never stress more the importance of taking out life insurance, especially if you are supporting a spouse and children. Although it may not cover all of your bills, the payout from a life insurance policy can at least provide some kind of income until the family can work through this difficult time and start to rebuild.

Obviously, a tragedy will always remain a tragedy, and the grief and pain that a family suffers can never be diminished. However, if there is food on the table and a roof over everyone’s heads, it can make the healing process easier.

Call your financial planner or insurance agent today, to find out the best kind of life insurance that you can take out for your family. It is better to spend the money on a plan and never have to use it, than to be left in the aftermath of a tragedy to survive on the goodwill of public charity.

About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm located in Jerusalem. He specializes in working with clients who live outside of the United States and want to maintain a U.S. brokerage account. Doug’s newest book, co-authored with Susan Polgar, about how using chess strategies to improve your finances, Rich As A King can be purchased at www.richasaking.com. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, FSI. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Contact at doug@profile-financial.com

The author's opinion does not necessarily reflect the opinion of The Jewish Press.

If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “The Greatest Gift You Could Leave Your Family”

Comments are closed.

Current Top Story
Sen. Tom Cotton (R-AK) and Israeli Prime Minister Benjamin Netanyahu, in Israel. Aug. 31, 2015.
Sen Cotton in Israel: ‘It Isn’t Over ‘Til the Votes are Counted’
Latest Blogs Stories
Doug Goldstein

Why is the study of demographics essential to predict the economy?

Seems Obama "Loved" Sderot when he was running to be Pres.

Jews & Israel will have a smaller role and value in the 2016 Pres. election campaign than in decades

obamatargetiran

No one wants war; sometimes there’s no choice. Sometimes it’s the lesser of 2 evils. US must prepare

Palestinians attack an Israeli soldier during clashes between Israeli security forces and Palestinian protesters, Aug28, 2015, in the West Bank village of Nabi Saleh near Ramallah.

Despite many IDF soldiers jailed for defending themselves, families say,”Rather jailed than dead.”

Why won’t the gov’t finally annex YESHA & Jordan Valley formalizing their status in State of Israel?

Both “Half-Shabbat” & R’ Yosef’s opinion champion an extreme. There most certainly is a happy medium

Trump’s slogan and story gives American restores hope to dream to: “Make America Great Again”

Is GDP outdated an measure of prosperity? Are there any alternative methods of assessing $ growth?

In their attack on Ban Ki Moon, Hamas admitted to committing a different war crime.

The ideal of Modern Orthodoxy should be not be viewed as a compromise the way most Charedim view it.

Israel shouldn’t rely on US; It has an awful record in protecting allies.

The Halacha of shmirat einayim (guarding one’s eyes) is incumbent on the MAN; it’s his obligation

Dem. presidential candidate Doug Shreffler talks about his campaign & its motto “as good as it gets”

I’ve decided to move away from my safety net-and I wouldn’t change that decision for anything.

Was “Jerusalem” the song Matisyahu planned to perform? It was the PERFECT response to BDS campaign

More Articles from Doug Goldstein, CFP®
Doug Goldstein

Why is the study of demographics essential to predict the economy?

Doug Goldstein

Is GDP outdated an measure of prosperity? Are there any alternative methods of assessing $ growth?

Dem. presidential candidate Doug Shreffler talks about his campaign & its motto “as good as it gets”

How does the Iranian deal affect anti-terrorist legislation adopted by a number of US states?

Why are wealthy people less likely to gossip? So if you get rich you’ll cut down on Lashon Hora!

What has made Israeli innovative startups world leaders in high tech?

Author Gail Reynolds offers great advice for Mom’s wanting to build a business around their families

How can you remove anxiety and worry from retirement planning?

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/the-greatest-gift-you-could-leave-your-family/2012/08/12/

Scan this QR code to visit this page online: