The mission of the Life and Health Insurance Foundation for Education (LIFE) is to help families, businesses and individuals find the insurance products that best fit their needs. In its “Real LIFE Stories” initiative, the organization recently told the story of Sandy Wood, who was left to run her family’s farm after the sudden death of her husband, Harvey.
Harvey Wood was only 50 years old when he was killed by a tractor that accidentally slipped into gear. Although his wife and three children were devastated, they barely had time to grieve as they quickly realized that they still had a farm to run. The crops on their Arizona property continued to grow and the bills to keep the business running still needed to be paid.
“We owed hundreds of thousands of dollars,” Sandy Wood said in an interview with LIFE. “I kept thinking ‘this farm has been in our family for generations, I can’t lose it now.'”
Fortunately for Harvey Wood’s survivors, he had purchased a life insurance policy early in his farming career to protect them from financial hardship in the event of his death. With the funds, the Woods paid off the farm debt, student loans, credit cards and the mortgage on the property. Their farm continues to thrive.
“Our life is forever different without Harvey,” Sandy said. “But because he cared so much and bought life insurance, our way of life hasn’t changed.”
In the event of a tragic accident, you don’t want to leave your family in a difficult financial situation. Purchasing a life insurance policy can prevent this from happening. If you’re interested in learning how you and your family can benefit from a term life insurance policy, visit LifeInsure.com today.