Most people have seen and heard the horrifying news of innocent people going for help with chronic neck and back pain to be injected with an epidural steroid for pain relief, only to have been infected with a fungus-contaminated steroid that caused meningitis. At present, it is believed to have been distributed to 23 states and could involve as many as 13,000 innocent people. To date there have been 198 confirmed cases in 12 states. It is responsible for 15 deaths. My home state of Tennessee has been hit the hardest with 52 of those cases resulting in 6 deaths. Source www.tennessean.com on 10/13/2012.
This hit a little too close to home when a good friend of mine lost a good friend of his to this tragedy. A person who has chronic neck or back pain and goes to a licensed reputable facility to receive a shot of epidural steroid for pain relief. It can’t be any more innocent than that. Only to have injection tainted with a fungus-contaminated steroid causing meningitis is beyond comprehension. These are friends, family and people you meet every day, gone in a matter of days. It really makes one realize how precious and fragile life is.
Now not only are these families reeling from the loss of a loved one but all of the expenses associated with their death. According to the National Funeral Directors Association, NFDA, the average cost of a funeral is approximately $6,865.42 plus $1,000 burial for a total of $7,865.42. There inflation rate seems to be running at 2% per year. However, a lot of people far exceed those costs by buying out of emotion.
Now tack on the ongoing cost associated with the loss of a primary wage earner. According to LIMRA, 7 out of 10 American households would be in financial peril within just a few months if the primary wage earner were to die suddenly. Household bills, mortgages, education costs and even food could be an issue for those left behind. The good news is that with mortality tables at an all time high, term life insurance has not been this affordable in almost 40 years.
I can’t help but think of these tragedies in these terms after 20 years in the insurance industry. Our thoughts and prayers go out to the victims and their families.
Tim Wilhoit is owner/principal of Your Friend 4 Life Insurance Agency in Nashville, TN. He is a family man, father of 3, entrepreneur, insurance agent, life insurance broker, salesman, sales trainer, recruiter, public speaker, blogger and team leader with over 25 years of experience in sales and marketing in the insurance and beverage industries.