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Debt Free


“Preston Newby, 24, was a youth pastor who “lived to serve other people,” says his wife, Tara. So it was no surprise when he pulled off the Interstate late one night to help passengers in a car that had just collided with an elk. While calling for help, Preston was struck from behind by a driver who swerved to avoid the accident scene. He died moments later in Tara’s arms.

The tragic situation would have been much worse if it hadn’t been for the Newbys’ decision a few years earlier to buy life insurance. “We discussed how, if one of us passed away, the other would want to stay home with the children,” says Tara. Sadly, that hypothetical discussion became reality all too soon for Tara, who was 10 weeks pregnant with her second child when Preston’s life was tragically cut short.

But thanks to the life insurance, she is able to be a full-time mother to Jacob, 2, and Micah, 3 months. She also paid off her student loans and other debts. More importantly, it gave her time to grieve and to focus on her children. “With so much to stress about while raising two children, it’s a blessing not to have to worry about finances,” says Tara. “I feel like it was Preston’s last gift to us.”” (from LifeHappens.org)




What would happen to your family if you were to die suddenly? Would they be able to afford to pay for your funeral and burial? Would they be able to maintain their lifestyle? Would they be able to keep their home? Would they have to rush back to work in the middle of their grief?

If you die without life insurance your family may find themselves in a financial disaster at a time when they are already overwhelmed with grief. Most people are adamant about taking care of their families….family vacations, fancy anniversaries and elaborate birthday parties, new gadgets, and even saving for college. But get this…

-Only 44% of households carry personal life insurance policies.

-And approximately half a million adults ages 30-55 die prematurely every year.


If you have a spouse and/or children under the age of 18, and you don’t have life insurance, you need to get up from the computer and find someone to give you a good kick in the butt. Then when you recover, pick up the phone and call a good insurance agent. Many people are never taught how important life insurance is. But now that you know, you can do something about it.

There Is No Excuse. Life insurance is a non-negotiable if you love your family. In the event of your death, your term life insurance policy will make sure your loved ones are taken care of. You should carry a 15-20 year Term Life Insurance policy with a value of 8-10 times your annual income. This amount will cover your funeral expenses, most or all of your outstanding debt including your mortgage, most or all of your children’s’ college, and leave your family enough to replace your income for several years. They could also invest this money with a 10-12% return and completely replace your income.

And the cost of this type of policy? For a 35 year old man in reasonable health…about $25 a month!!

So what are you waiting for? Please do not neglect this aspect of your financial plan and debt free life. Plan for the future and make sure your loved ones are taken care of, even when you pass from this life. It’s one of the very best decisions you can make, and one of the most profound declarations of your love.


Yours In Freedom,

Clint