(ABC News) A 91-year-old Arlington, Wash., widow is selling all of her belongings so she can afford to bury her late husband.
A Widow’s Struggle That Reminds Us to Plan Ahead
Elsie Smith, who has only $9 to her name, needs around $3,000 to bury her husband of 46 years beside their family. Her husband, Joe Smith, had been suffering from Alzheimer’s for two years and passed away at the age of 88.
“I loved that man more than anything in this whole wide world,” said Mrs. Smith, her voice filled with grief.
Selling Everything to Say Goodbye
To raise money, Mrs. Smith is holding an estate sale, offering nearly everything from her apartment — except her and her husband’s clothing. “I’d like to keep everything,” she said softly, “but I have to sell it.”
Her story is heartbreaking, but it also teaches an important lesson about financial preparation and life insurance.
Why Life Insurance Matters
Many people cut life insurance first when trying to save money. In tough economic times, it seems like an easy way to reduce expenses. However, skipping this safety net can leave families struggling, just like Mrs. Smith.
With a little effort, you can still save money on insurance without losing protection. Here’s how:
Step 1: Check If You Really Need It
Do you have dependents who rely on your income?
Would your savings cover funeral and burial expenses?
If the answer is yes, life insurance may not be essential. But if not, it’s time to consider it seriously.
Step 2: Know How Much You Need
Don’t guess or copy someone else’s policy. Use a life insurance calculator to estimate how much coverage you truly require. Avoid relying solely on an agent’s advice — take control of your financial decisions.
Step 3: Choose Term, Not Whole
Salespeople often promote “whole” or “universal” life insurance plans that combine investment options. These usually benefit the agent more than the buyer.
A smarter option is term life insurance — it’s simpler and cheaper. You can then invest the savings separately in a Roth IRA or another trusted plan.
Step 4: Compare Before You Commit
Always shop around. Get multiple quotes before buying. Even if a family member sells insurance, that doesn’t mean you’ll get the best deal. Stick with reliable companies that have a solid reputation.
Step 5: Use Your Memberships
If you’re part of organizations like AARP or AAA, or even your workplace, check their term life insurance offers. They often provide exclusive discounts for members.
Step 6: Be Smart With Sales Pitches
Insurance agents earn through commissions. That means they may push products that make them more money — not necessarily what’s best for you. Listen carefully, ask questions, and only buy what you truly need.
Plan Smart, Protect Your Loved Ones
With some research and planning, you can keep your life insurance affordable and effective. Taking charge of your finances today ensures peace of mind for your loved ones tomorrow.
