Episode 287-Life Insurance Procrastination

Kraig Strom, The Income Engineer

The financial stress of losing a loved one can also have a significant psychological impact on children. Several studies have shown that children who grow up in financially difficult times after the loss of a parent may experience psychological and emotional difficulties. One study, published in the Journal of Child Psychology and Psychiatry, found that children who lose a parent to death are at an increased risk for developing mental health disorders, such as depression and post-traumatic stress disorder (PTSD).

These children were also found to be more likely to experience difficulty in forming healthy relationships and achieving academic and career success.

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