I just completed judging more than 40 of the nearly 1,500 total applications that the LIFE Foundation received this year from college-aged kids applying for over $100,000 of scholarship funds.

Each year, LIFE solicits applications for its LIFE Lessons Scholarship Program. The applicants submit stories about how one or both of their parents died with no life insurance in place (or not enough life insurance).

The judging is absolutely gut-wrenching. Every story is unique and emotional, but they all contain certain core elements:

disrupted families

dreams denied

inability to stay in the family home

surviving parents taking on more than one job to make ends meet

siblings often being split up to live with family

reliance upon good neighbors and family for support

realization that after the funeral is over, everyone elses life continues

sometimes there is addiction and pain among other family members

kids having to work way too early in life to help support their family

kids missing out on growing up and normal school activities

abrupt changes in plans

relocation to other cities to be near family

grandparents, aunts and uncles being put in positions they didnt seek

kids saying, If my mom or dad only knew the problem this caused.

realization that life will never be what they had hoped and dreamed for

kids saying, Ill never leave my family is this type situation.

kids saying, If only an agent had talked my dad or mom into buying life insurance.

the burden of long-term debt due to mounting student loans

It doesnt have to be this way. While LIFE is pleased to be able to give a few of these deserving kids an opportunity with some financial assistance, it would be a whole lot better if there were no kids who needed LIFEs help.

The bottom line is that if you have someone who depends on you financially, and you have too little or no life insurance, you need to do something about it right now. Not later. Now. You can start by finding out how much life insurance you may need with LIFEs easy-to-use Life Insurance Needs Calculator.

You can also help these deserving kids by donating to the LIFE Lessons Scholarship Fund.

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This entry was posted on Tuesday, April 19th, 2011 at 11:32 pm and is filed under Life Insurance. You can leave a response, or trackback from your own site.