Americans planning for retirement and the financial care of their families could find all their work thrown into disarray by a single unexpected occurrence. Victims of a historic rash of tornadoes across the Southern U.S. found that out first hand last weekend.
The severe storms tore across 15 states from Oklahoma to North Carolina, lasting from Thursday to Saturday and leading to a three-day U.S. record of 267 tornado reports. As many as 45 people were reported dead, with dozens more injured. North Carolina bore the brunt of the damage, with nearly two dozen people killed on Saturday in that state alone. Additionally, one twister cut the electric supply to a nuclear power plant in Virginia, causing its emergency system to kick in and shut down power to its reactor cores.
The severity and suddenness of the storms, as well as their path through densely populated areas, led to an increased rate of causalities and destruction, said meteorologists. Unexpected events like this only underscore the importance of a term life insurance policy.
In the event that a family's primary breadwinner passes away as a result of an unforeseen natural disaster, a term life insurance policy can step in to be an income source as the family gets back on their feet, experts say.