Term life insurance is a very inexpensive way to protect yourself from a risk like this. For less than $20/mo* this young woman could have purchased a $500,000 death benefit policy good for 20 years. The policy would have paid off her debt, started a college fund for her three kids, and left the parents with an additional $150,000 to $200,000 to help raise her kids. All for the cost of a few cups of Starbucks coffee each month.
If you have children or anyone else dependent on your income, you need life insurance. If you have co-signed a loan that would cause you a hardship if you had to pay it off, you need life insurance. If you carry any debt that would hinder your heirs, you need life insurance. It’s so cheap there really is no excuse to not have it. Imagine how different this story would have been and how different her kids and her parent’s life would have been if life insurance were in force.
*Assumes non-tobacco preferred plus rates.