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Parents Are You Procrastinating on Life Insurance?

Written by Rob Pinner

When is it appropriate to talk about Death? It’s a scary subject and people don’t like talking about it. When you bring money and death together – you can bet nobody is coming over for dinner at your house anymore.

Life after death always makes people nervous and most prefer not to think too much about it. ‘The life you leave behind’, or ‘the legacy you leave your children’ – it gives me the willies! Let’s dive in anyways.

Life insurance isn’t as complicated as people think. Life insurance can make things a lot less complicated actually!

While there are a wide variety of policies available, most parents would do best with term life insurance, which is inexpensive and covers the years when your children would most need your financial support. For example, for parents of very young children, a 20-year term life policy—one of the most affordable options—would be active all those years from childhood into college.

Whole Life policies, on the other hand, can make an impact on kids who will need financial support for their entire life, like special needs children. Whole Life policies would keep them covered regardless of age. Although more expensive, that policy will remain active as long as the premium is being paid, without an expiration date.

Caretakers in general should consider life insurance. In the event of an accident the person in care is put at great risk If there is not financial safety net. These are all thing to consider with the weight it deserves. Get a quote today.

Thinking about your family’s debt

Parents Are You Procrastinating on Life Insurance?

Making the decision to buy life insurance is much more than starting a rainy day fund. It’s a real acceptance of mortality and how little control we have of the future.

The gift of financial support can help preserve a sense of stability in the chaos that the future holds without you. With the funds from a life insurance policy your family can stay in the same home and school they are used to, surrounded by friends, neighbors, and teachers who can help them with the hardship. One of the most important things we can leave our kids is our legacy, it lives in the memory and teachings we hand down.

As it turns out, both money and debt are inheritable in more ways than one. Studies show that children will tend to mimic their parents’ financial habits—whether the tendency to squirrel away money or the tendency to fall into debt.  Children learn much their habits from what they see their parents do, and how the handle their money.

First, in practical terms—if you are in debt now and you’re ready to buy life insurance, it’s important to keep that in mind when choosing coverage. You want to choose enough coverage to help your children pay for any debts and bills that they will be responsible for, including mortgages and household-related expenses.

Purchasing life insurance is a big part of a smart financial strategy and in teaching your kids that it’s best to think ahead rather than just reacting to emergencies as they happen. Lead by example – your kids will appreciate it one day. Get a quote.

See? That was a hopeful approach to a hard conversation. Hope it helped!

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Rob Pinner
Rob Pinner

My name is Rob Pinner and I own EasyQuotes4You. At EasyQuotes4You we aim to make your life insurance buying process a smooth and stress free transaction.  We are independent life insurance agents servicing all 50 states. I have over 15 years of experience and have focused solely on life insurance for the past 5 years. If you have any questions or comments please don’t hesitate to give us a call.

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