September is Life Insurance Awareness month and this post is in partnership with TermLifeInsurance.com, which helps spread awareness of the importance of term life insurance. Learn more about how you can protect your family and your finances.
The other day, my sister sent me a text message and told me that her new job is offering her life insurance.
While the amount is most likely not a significant amount, I realized that she is still a step ahead of me (and my husband) because she at least has SOMETHING. Plus, hers is free and taking free life insurance is the first step for many.
However, I have nothing. My husband has nothing. Yes, that means that neither of us have no life insurance whatsoever!
Personal finance writer fail right here!
It’s something that we’ve talked about a lot lately, but we still keep putting it on the back burner and forgetting about it. When I say we’ve been talking about it a lot, I actually mean it. It’s a topic that has come up at least once a week in our conversations. We have done almost nothing to change this sad fact, though.
This is a huge mistake. We both realize that too. Life insurance is something that we hope to tackle this year, especially since I know there are so many reasons to have it.
Below are three reasons we are getting life insurance this year.
1. You never know what may happen in the future.
Anything could happen to either of us and we would rather pay some money for comfort in knowing that we will be okay, than be completely shocked, devastated, and surprised later on.
While money will not take the pain and sadness away if something were to happen to one of us, it is better than nothing.
One of us will still be able to pay our bills and not have to worry about debt piling up. I have heard of many sad stories of families who were unable to pay their bills after a loved one had passed away. This is something I do not want to personally experience with a spouse, or something I would not want my own family to experience if something were to happen to me.
And, I personally know of this as well. My father had life insurance but it had lapsed shortly before he passed away. I’m assuming that with his sickness that he forgot about it. I would much rather have him back, but I do know that I don’t want to put my own family through that.
2. We want to have a family.
While we have no children right now, we do want to have them later – possibly in a few years. When we have children, I definitely want to have good life insurance just in case anything were to happen to either of us.
3. We are young.
The younger you get life insurance, then usually the more affordable it is. My husband and I are both only 26, so I’m fairly positive that we could lock in a low rate right now.
While we most likely still have a few more years to lock in relatively low life insurance rates, I know that we can have the peace and comfort of knowing that we have life insurance right now. That is exactly what I want!
Do you have life insurance? Why or why not?
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