Please tell me I’m not the only one who freaks out upon the sudden realization that I am, in fact, a grown up.
I mean, I really should have gotten the idea by now, what with expecting my second child, having a cubicle job and celebrating several wedding anniversaries. And if those things weren’t enough, there are plenty of other things that remind me I’m not a kid anymore. The sciatic nerve pain, the $86 spent at Lowe’s on strings of outdoor lighting, the term life insurance we recently purchased.
Sure, some of those things make feel just plain OLD (sciatic limp!), but some make me feel downright responsible. Like the insurance. When you’re building a family, it’s much more fun to talk about things like new cloth diaper prints and swaddle blankets, but what those babies really need is the kind of security that comes from a solid policy instead of a soft blanket.
But what is term life insurance? Basically, it’s a great way to protect your family against risk. The risk presented by your untimely death, specifically. Its purpose is to pay off debts, like mortgages, dependent care, college costs for your kids, and funeral expenses. You purchase a plan for a limited amount of time, as opposed to universal life insurance, which guarantee coverage for your entire lifetime. For example, you might choose to purchase a plan that lasts only until you plan to pay off your mortgage, or until your retirement age, when you are likely to have less debt. Term life insurance is often the most affordable way to provide that kind of security to your family for a fixed amount of time.
Our policy is quite inexpensive – about the cost of one night of takeout or a pack of diapers. I sincerely did not write this post to be a downer, but number crunching has been top of mind lately in our home. In the midst of the holiday season, or on the cusp of welcoming a new baby, it’s easy to get wrapped up in the fun and excitement. But, as a gift to you, I offer up just a little nudge of a reminder to think longer term. You’ll never regret providing your family with that extra peace of mind!
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