Parents don't want to talk about death with their children, and most children don't want to think about what their lives would be like without their parents. However, you should be open and honest with your children about this difficult subject and your preparations for them should it happen.
If you're uncomfortable approaching this subject, you're not alone. According to a survey conducted by State Farm, only 38 percent of American parents were comfortable talking to their children about life insurance. Those surveyed said that they were more at ease discussing drugs, alcohol, religion and politics. The study also noted the importance of discussing life insurance with children, as 45 percent of those surveyed said that they first learned about life insurance through a family member.
Just like adding money to a savings account or contributing to a 401(k), purchasing a life insurance policy should be included in your future financial plans. Making your children aware of this sets a good example and lets them know that you are always thinking about their well-being.
A discussion about life insurance also doesn't have to be centered around death. Speaking with FOX affiliate KFXV, Dr. Cynthia Gonzalez, a psychologist, said that it's more prudent to be open and realistic with your kids than to keep them in the dark about important life preparations.
"Life insurance is about planning. It's helpful for them to understand that you have a plan for them and that you love them so much that you're thinking ahead for them," Gonzalez told the source.