It's a topic that very few want to discuss but it's one that every single person will need at some point.
Did you know that 10 out of 10 people are going to die?
The question isn't am I going to die......it's when am I going to die. In my opinion, every adult needs life insurance whether you are 25 or 75. I feel that it's the responsible way to relieve some of the financial burden off of your family.
Obviously, the amounts will be adjusted based on where you are at in life. Amounts will probably be higher when you are younger/middle age and have children in the home. Or, even based on your income and lifestyle. What works for one family in their 30's might not work for another. But you get the idea. It's something that many families put off but it should be a top priority for you. It's as simple as skipping a few dinners out per month.
I'm so thankful that Jason made this a priority. We got life insurance right after we got married and I can assure you that we never, ever thought we would use it at this stage of life. Purchasing life insurance is somewhat of a gamble.....most people will pay yearly premium for several years without getting any money in return. But it's a gamble that you do NOT want to take. Once a person dies, you don't get a do-over. No second chances to get a policy. You either have it or you don't. Don't be caught without it.
Now that I've convinced you of the importance, let's talk amounts. I can't tell you how many people I've talked to that have told me that their husbands only have a small ($50K) policy that his work offers. I'm not saying that $50,000 isn't a lot of money but how long will that last you? Funerals are at least $10,000. And if you have kids........well, then you know how expensive it is to raise children. Do you stay home? Would your life insurance amount allow you to continue staying home? Or even if you work, would your life insurance amount allow you to keep your home and maintain your same lifestyle? These are all important questions to ask yourself.
Unfortunately, most of us are worth more money when we are no longer alive. It sucks. I'd give every single penny back to have Jason still here. But the reality is that we have 2 young boys. And boys are expensive. Especially my 6 year old that eats more than me and my 9 year old combined. But that's another story!
I stopped teaching 6.5 years ago when Cooper was born. Jason and I felt it was important for me to stay home. The summer before he died, we talked and decided that I would continue to stay home (even though Cooper was starting kindergarten) and just teach preschool 2 days a week so that I would have flexibility and still be able to be there any time the boys needed me. Life insurance has allowed me to continue that dream. My dream of staying home didn't have to die just because he did. What are your dreams and goals?
I'm young and so are the boys. So obviously, I have myself on a budget and am being very smart with this money. Since I don't work and I don't pay into a 401K or anything like that......a big part of that money needs to serve as my retirement. Even with all that, I still have a life insurance policy on myself. If something were to happen to me in the near future, my boys would have a lot of years that would need to be covered.
I would encourage you to get coverage on BOTH spouses. Even though Jason was the bread winner, we still had a policy on me because if I died then he would be spending a lot of money to replace the work that I do for our family. (cleaning the house, after school care for the boys, cooking, etc.....) Lots of people have told me that they only have a policy on the husband. Bad, bad idea.
I know this is a touchy subject but it's one that I'm passionate about and one that I feel I have earned the right to talk about. I can't even imagine how different this past year would have been for me if I had to move because I couldn't keep my house, if I had to return to work and was not given proper time to grieve, stress over how bills would be paid, etc... I would venture to say that each of you loves your family and would never want to leave them in a bind. Please do not put this off. We are not promised tomorrow. Make it a priority to get life insurance TODAY or at the latest THIS WEEK.
Okay, off my soap box. Just trying to take care of my peeps. :)






























