Discussing Florida Life Insurance with Your Children

A recent study published in September 2013 by a leading automobile insurance provider revealed that the majority of parents are more comfortable talking to their children about drugs than Florida life insurance. While this may seem strange, there are some very important things to consider – especially if you need to discuss life insurance with your own children.

The Statistics

Believe it or not, only 38% of the parents nationwide that were polled stated that they would feel ‘extremely comfortable’ talking to their children about life insurance. However, more than 55% stated they were comfortable discussing drugs and alcohol with their kids openly. To put this into even further perspective, three out of 10 parents stated that they were comfortable discussing puberty and related subjects with their children. Why is Florida life insurance such a difficult subject to discuss?

The Implications

When asked in detail about why they did not feel comfortable discussing Florida life insurance with their children, a vast majority of the parents reported that death and dying were considered ‘taboo’ subjects and that it was ‘bad luck’ to discuss such things. Of course, when discussing life insurance, this is the route that the conversation will inevitably take. However, as your children grow older and begin to take on more responsibilities – and particularly when they leave to go to college – it is necessary to discuss the importance of Florida life insurance.

Why It is Important

Something else to consider is that more than 30% of the households in the United States lack life insurance coverage. Often times, this is not because the premiums are too expensive; it is because the members of the household simply do not think about the importance of covering their final expenses and making sure their loved ones are financially stable after their deaths. By having this conversation with your children early, perhaps as young as 14 years old, your children will learn the importance of this insurance and are more likely to purchase it as adults.

What to Say

If you are looking for ways to discuss Florida life insurance with your child, there are many routes you can take. It is best to simply be honest but to use terms that will not cause your child to feel a sense of impending doom. You could explain that you want your child to be taken care of in the event that something tragic happened to you. You may also choose to explain to your child that if you should pass away, bills would still need to be paid and your child would still need to have money for college. All of these things are great conversation starters, but your child will likely ask some questions along the way, too.

There is no reason for Florida life insurance to be a taboo subject at family meetings. While it isn’t something that you will need to address all the time, a conversation once per year about the importance of life insurance and why it is in place will help your child feel more secure in the long run.