Recently a very good friend of mine passed away unexpectedly. Young guy with a wife and 3 young children. He owned his own contracting business and was doing very well (at least to the outside world, I'm sure only him and his banker knew for sure). At his services, I happened to run into my banker (coincidentally, my banker was also his banker), and found out that my friend never took the option of disability/ life insurance on any of his equipment loans. He owes on excavators, dozers, skidsteers, trucks, etc. Though I partially blame the bank for not requiring the insurance (maybe they cant? legally require it? I dont know for sure) I feel really bad for my friends' wife, who is now still responsible to repay those loans. Had my friend opted to pay the additional couple dollars/ month, all of his loans would have been wiped clean at the time of his death. Just something that is on my mind today as I do paperwork and end of year. I have always opted to take the extra insurance on my loans. It is a couple dollars more per month, but it is also peace of mind, less of a mess for my family to clean up, if anything should happen to me. Hope everyone had a great Christmas. Happy New Year, have a safe and prosperous New Year!!