Life Insurance: More Important Than You Might Think

It’s that time of year again: open enrollment at Chris’s job.

Do you know what that means?

Health insurance. Dental insurance. Vision insurance. Group term life insurance. Individual policy life insurance.

Le sigh. 

Chris has a nice term life policy through the military life insurance company, but I have had no life insurance since leaving Paychex almost 3 years ago. Well, I won’t say “no” life insurance, I do have the $5,000 through the bank that we receive for just about $4.00 a month. We are finally able to get me back on a good life insurance policy, thanks to a very reasonable rate through his employer.

Dude, even Angeline has life insurance! I bought her a grow-up plan when she was a month old back in 1997, and I still pay just $8.75 a day for $10,000 in term life insurance. She can cash it out when she’s 21 or turn roll it into a $25,000 life insurance plan, but she is guaranteed to always have that nice little policy with super low rates because I locked it in when she was a baby.

Life insurance is so important, yet it’s something that hardly anyone thinks about. I am probably the youngest person to ever worry about life insurance, but having worked for a life insurance salesman for two years when I was in my 20s, I know how important it is to protect your family from financial strain when someone passes away.

You can get a term life insurance plan for a fraction of the cost of whole and cash value life insurance plans, which make them much more affordable  This is true especially if you don’t have a history of health problems and are in good physical shape. You can even find term life insurance plans that don’t require a physical exam!

It is always a good idea to have life insurance because you never really know what’s going to happen. My estranged brother in law was hit by a car while driving his scooter a few weeks ago, and there was a period of almost a week where we didn’t know if he was going to make it through. He ended up being okay, despite having to have rods and pins surgically implanted into his back, but if he hadn’t?

My sister would have had no way to pay for his burial, and she is struggling as it is to support the three children without him being around.

Never underestimate the value of life insurance!

 

While the link in this post is sponsored, life insurance is a subject that I am very serious about! All opinions are my own and I highly recommend that you look into getting at least a term life insurance policy with enough coverage to pay for your burial expenses should the unexpected happen.