It seems that lately, the Husband and I have been thinking like grown ups, especially when it comes to the kids. It may be because of their birthdays this month, or because we’ve finally found where we plan to retire, but we are determined to tie up loose ends. Recently, those loose ends had been leaving a bank, starting a relationship with a credit union, and creating bank accounts for Sonny. Now, we’ve moved onto Insurance.
Life insurance isn’t something that’s foreign to us; I have a policy the military convinced me to get when I was away at basic training, and my Husband has one through his employment. We also have a separate one that we started when we took our insurance broker classes. We’re pretty much covered. But, what I loved learning about what the difference between policies. There are so many out there, which may make it daunting to even start up a policy. When we took our classes, I was surprised to learn how important, and effective, Term Life Insurance is. It only covers you for a certain time period, whether it be a 10, 20 or 30 year “term,” but if you think of WHY you’d only need that coverage during that time period, it makes complete sense. If something happened to us before the kids finished college, or even got to college, the insurance would cover whatever expenses we’d leave behind, as well has add to their college fund. Sites like Term Life Insurance Rate Company are able to explain it better than I can, but just knowing that makes me feel at ease.
We now have all of our insurance paperwork organized and in a safe place. Our next project will probably be mutual funds and other investments. We’re checking our finance to-do list and crossing off major items. It’s becoming enjoyable to be prepared, especially as I watch my kids grow before my eyes.
Do you have life insurance? Did you go for a Term policy or did another policy fit your lifestyle better?
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