Could you live on a $1.50 per day?

November 5, 2013

Blog

Screen Shot 2013-11-05 at 2.39.35 PMActor, director, producer, Ben Affleck once lived on $1.50 a day for five days as a way to promote awareness of extreme poverty. He did so as part of the “Below the Line” project. The “Below the Line” project is aimed at raising awareness about extreme poverty.

The “Below the Line” website describes itself as:

“An initiative of the Global Poverty Project and education in campaigning organization whose mission is to increase the number and effectiveness of people taking action against extreme poverty.”

The challenge that the Below the Line project presents, spend five days feeding yourself with a $1.50 a day, which in the United States is the equivalent of the extreme poverty line.

Some people might scoff at the idea that an actor such as Ben Affleck with a ridiculous amount of wealth would live on $1.50 a day. It’s a scenario in all reality he would never have to encounter. For the rest of us who could lose a job, have a loved one pass away or become injured with a disability, the possibility of having to live off a $1.50 a day is much more real.

But there are insurance products that can help prevent this possibility.

Life insurance

It is hard to think about the loss of a loved one. As hard as it is to think about, the financial burden can be as challenging as the emotional one. The thought of carrying on and providing for one’s family is daunting. Thankfully there is life insurance to provide a safety net. Life Insurance  can replace your income and  provide security for your loved ones in the event of the unthinkable.

Long-term disability insurance

Your ability to earn income is your most valuable asset. What would happen if you  were disabled due to a sickness or accident.? How would you pay your mortgage, your car payment, everyday expenses? Thankfully there is Long Term Disability Insurance. This coverage provides income while you are unable to work providing much needed financial security.

Fixed annuities

Another way to protect ourselves financially is to save. A great way to do this is with a Fixed Annuity. A Fixed Annuity provides a guarenteed interest rate on a tax deferred basis. It can also provide a lifetime stream of income.

The Insurance Take-Away

Ben Affleck is doing a very good thing by living off a $1.50 day to bring awareness to extreme poverty. The unfortunate reality is that many of us do not have the wealth that a celebrity such as Ben Affleck has. For most of us insurance products such as life insurance, long-term disability insurance and fixed annuities provide the support that we need to ensure that our family never has to deal with living off a $1.50 day.

If your questions concerning life insurance, long-term disability insurance or fixed annuity products please give us a call  at 217-345-7063 or email at  oetting@consolidated.net

 


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