September is Life Insurance Awareness Month and the Life and Health Insurance Foundation for Education tapped Los Angeles Laker Lamar Odom as their spokesperson.
Odom benefited greatly from a life insurance policy his mother, Kathy Mercer, had in place prior to her early death.
While life insurance policies are not as widely sought by individuals as they have been in the past, it is still a viable option for securing your family’s future.
As a singe parent, Odom’s mom understood the value.
From LifeInsure.com:
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Lamar has a great story about the value of life insurance to tell – his mother passed away from colon cancer when he was twelve years old. Because she had life insurance, he was able to continue attending his private Catholic high school, where his mother had enrolled him so he didn’t have to go to the public school in his rough neighborhood. As a single parent, she knew the value of a good education and, in spite of her modest income, she purchased a life insurance policy to ensure that Lamar would be able to continue his education in the event of her death – which, unfortunately happened much too soon.
When Lamar’s mother died, he had no idea how important his mother’s unselfish act was, but he fully realizes it today. ”Purchasing life insurance was one of the first things I did when I entered the NBA,” he says. ”As a husband and father of two beautiful children, I want to make sure the people I love will be provided for.”
It was wise of Odom to purchase life insurance when he entered the league, but unfortunate that he had to lose his mother to realize its importance.
We’ve heard stories of athletes passing away and leaving their families in debt or unable to handle the most basic funeral expenses. A lack of preparedness knows no face or socio-economic boundaries.
For more information about life insurance options, contact Chris Childress (cchildress@financialguide.com) of Fraser Financial Group, an agency of Mass Mutual Financial Group.
