It’s tough. No, it’s scary to be proactive in an economic meltdown of the proportions that we are experiencing right now, but it may mean the difference in your family’s future.

There’s no surprise that I would want to talk about life insurance. I certainly appear to be out to set a record for the most reasons to buy life insurance at a time when people have the least amount of money, so bear with an additional thought.

I’ve often pounded on the fact that those who put all of their life insurance eggs in a group basket are putting themselves (and their family) at risk of losing that insurance due to a firing, layoff, downsizing, or benefit package change. Right now, with millions losing their jobs, and probably more before it gets better, consider the prudent idea of carrying some amount of term insurance outside the workplace.

I mean what a great concept. Have one thing that can go untouched when the company wrecking ball hits. Know that when you walk out that door, you have not lost the life insurance protection that will help your family carry on. And know that with term insurance you can do it without even breaking your newly revised budget.

I am not opposed to group insurance. I believe anyone who is offered group insurance at great rates ought to scarf it up. All I’m saying is have a back up plan. That way, worst case, you die with group and personal coverage in force and your family gets a little extra. Who among us wouldn’t want to leave our family better off if we had the means to do so.

Bottom line. During the brightest of economic times making sure our family is OK if we happen to depart early should be a priority. During the times we are experiencing now it becomes imperative.