Having kids is a reason that many folks decide to get a life insurance policy. I know we have three very good reasons to have a policy. (Aren’t they cute?)
Photo credit: Jennifer Mirock Photography www.mirockphotography.com
I will forever remember the morning of September 11, 2001, just as almost any American will. I will also forever remember returning home after work that evening, taking a look at my then-boyfriend and bursting into tears, realizing as I looked at him that he was a strong, healthy young man and we were probably going to go to war to retaliate against the terrorists and ohmygoshwhatifhedoesgotowarwhatwillhappentome and suddenly my world seemed to just STOP. I’m still not sure how that could possibly be because it had stopped that morning when I first learned of the attacks. But still, things got real in an entirely different way right then and there.
We’d already bought a house together, just a few months before. We knew we’d be married down the road, although we weren’t officially engaged. But we knew. We’d known since about 2 weeks after we met that this was it…for both of us. He was already thinking about what he could do to plan ahead for the worst in the event that more attacks came, or if he got drafted to go to war, or went to enlist. He’s the planner. I’m the feeler.
After we’d been home a few hours, had dinner, cleaned up, he said he wanted to have a serious conversation. Brett, he said, I think I’m going to get life insurance. Name you as the beneficiary. That way, if something happens, you’re taken care of. You won’t be left with a mortgage you can’t afford in a house that’s in this condition (we’d bought a fixer upper- it was JUST finished 100% when we moved out in June of 2005). It took me a while to begin to wrap my head around this. But he was right. So we started to look into life insurance policies. Then we got a little bit confused.
Trying to figure out how much life insurance was a bit overwhelming to us both. We weren’t aware of sites like Genworth Financial who provide resources and information to help sort things out when it comes to looking into life insurance. Thankfully, we did get it sorted out, and we’ve had coverage ever since. It may not be the most pleasant thing to discuss, but having life insurance helps to ensure that your loved ones aren’t left high and dry if the unthinkable happens. Now that we have children, we’ve changed our policies as well. Articles like this Life Insurance 101 I found are a way to find out more information before deciding what kind of insurance to purchase and how much.
Do you have life insurance? What made you decide to get it? Do you have any tips or suggestions?
This is a supported post with information provided by Genworth Financial. All thoughts and opinions are my own.
sandy weinstein says
i dont have any additional life insurane other than what i get w/ my retirement benefits. i am by myself, have only 3 dogs, which are already provided for in my trust, already have a buriel plot, have not prepaid my funeral yet, which i took care of for my mother. you can get a long term health care policy w/ life insuraance built in….but if you dont need anymore life insurance, then this is not the plan for you. you really only need life insurance if you have children/family…which i do not have.
Cristina says
It is very important to have life insurance. You would be surprised at how little it costs, even if it is just a small policy to cover funeral costs. My husband took his life over a year ago, and of course that is horrible and traumatic, I was grateful that he had a fully paid up life insurance policy. He had been paying $35 per month for years on it, and because he hadn’t taken the policy out within 3 years of his suicide, it paid out. It made me realize I needed to have something in place in case something happens to me, so that my 12 year old daughter is taken care of. Even if it isn’t a fortune, at least she wouldn’t be left in debt. You may think “Oh, it won’t happen to me”. A few years ago, a friend of mine lost both her brother and his wife when they were hit by a car when riding bikes. They left a 9 year old daughter. They did have a good life insurance policy. (Nothing can replace the parents, of course!).
queenb says
oh, Cristina, I’m so sorry about what happened. I’m also glad that he did take care of the policy- it’s so important to take care of those we leave behind.
Sacha Schroeder says
Life insurance is important! Especially if you have kids. Thank you for this post!
Lynee Kelley says
I am so amazed at how much things like a funeral costs nowadays. I know many people who have chosen cremation due to the prices. I believe life insurance is really important to have and horrible for those that cannot afford it.
Stephanie from CT says
We got term life insurance when the kids were born.
Ciara Weaver says
I do not have life insurance, it isn’t something that I can currently afford
Wendy T says
No life insurance here. It’s a touchy subject.
Jessica says
Unexpected things can happen at any time so it’s definitely something to have especially if you have dependents
Laura Miller says
We do have life insurance. We decided to get it when we decided to have children. Its really hard to think about ever leaving them behind, but I do think its the responsible thing to do!
Aimee C. says
I am lucky to have had it through my husbands employment for years now and understand how important it it, especially nowadays with the economy soo bad!
jen gersch says
i have term life insurance…i do not want to leave my husband with the mortgage if i die
larissa brunken says
How thoughtful of your hubby. I am one of the millions of people who don’t have life insurance 🙁 we can no longer afford to pay for a policy. I know that horrible but what can a person do when they have to choose?
evelyn hall says
I don’t want to be a burden to anyone If I die…I want it all paid for so my family doesn’t have to worry about it…I know I don’t have enough…
Mary DeBorde says
Now that my kids are grown, I don’t have life insurance – but I really should anyway!
And Kudos to you for being mature and responsible for your little ones <3
Diane Sallans says
Life Insurance is incredibly important if you have dependants, especiailly children.
Stacey B says
My entire family is covered through my life insurance policy at work, and I do the up pay to ensure we have the most coverage available to us. It’s scary to think about, but you truly never know when your last day is, and the last thing you’d want is to leave your family with bills/debt.
Debbie Welchert says
I wish my husband felt they way that you feel. He has some life insurance at work but that’s it. It’s not enought to pay anything off. But I quess some is better than none.
Katie says
My husband has a small policy through his employer and we know we need to have additional…it’s first on our list after we get finances under control!
Diana C says
We have life insurance. It now is through my husbands job, but it makes a big difference knowing that if anything happens, we are covered.
When I was younger and only had a part time job and was single, it didn’t seem to matter much, but now that I am married, it makes more sense.
amyc says
We just got our life insurance policies a month ago. We not getting any younger and we have two little ones.
Jenni says
Life insurance is a must. You just never know if you will need it.
Eileen says
This post put a huge lump in my throat. We got insurance for hubby and kids as my sister lost a husband at age only 23, he was 24. She was left with a 3 year and 6 month old. That thing changes you. Then i got minimal insurance as a young mom, got divorced and had issues with health so mine is still minimal. My current husband had a life insurance policy at work and we added to that and then added our kids too. It is just peace of mind. Without it, it is a scary thought. Very.
Leah CB says
I have life insurance. Mine is through my car/home company. I have it because my agent talked me into it. It’s a really good idea. Never hurts to plan ahead for “just in case”.
Susan H. says
We have life insurance, it was provided through our employer.
latanya says
My husband and I both have life insurance through our jobs.
Tammy S says
My husband and I both have life insurance. It was something that I always knew I would make a priority. My father did and had very little life insurance, he was always going to get around to it or something else came up. After he died I watched my mother struggle for years, she still does. That is why we have insurance. I don’t want to leave a mess for my children.
gigi says
We both have life insurance because you just never know. It’s one of those things where I believe if you don’t pay for it now, you’ll pay for it later.
Jo-Ann Brightman says
We decided to get life insurance when our kids were young because one never knows what will happen.
MaryAnn says
My husband and I both have life insurance. With me being a stay at home mom and my husband started his career as a Walmart Sales Associate before moving up to management there were many days when it seemed like life insurance was an unnecessary expense. However, we still purchased it. My husband’s father passed away suddenly of a heart attack when he was only 46 and didn’t have life insurance and it left his family hurting for a long time. That is why we choose to have it so we aren’t financially burdened if something were to happen to either of us.
Jill A. Collins says
We had to drop our life insurance when the bills got too tight. I think it is super important to have, but by paying it we were in the negatives each month. Something had to give. I’d very much like to get it back some day soon.
D Schmidt says
This is something that I considered a lot recently and we just obtained life insurance for my Husband but we need to sort something for me.
Megan says
I just have the basic policy through work since I don’t have kids and bring more debt than income to the relationship.
rebeka deleon says
my husband has life insurance through his work, i have none on myself because i am a stay at home mom and we just don’t have the extra money right now for any other bills. i will def. do this when my kids are in school and i hopefully have a job…eh
Ashley C says
I don’t have anything above the basic coverage from my employer (1x my salary) but I am also single with no children. When I have a family, all that will change and I will prepare for the future with a reasonable policy.
Lisa R says
My husband has it out the Kazoo. We have one child together and it’s pretty much all for her. I have 2 other kids and am not sure if their dad has insurance. I have the minimal funeral and burial amount for me.
sibabe64 at ptd dot net
Kelsey Apley says
We have life insurance on my husband and I. We don’t have kiddo’s but I find it is important for everyone to have it.
Jan Messali says
Yes, we have life insurance. We bought it when we got married and have carried it for my years. We’ve had family members decide when they got older they no longer needed life insurance and it was a big mistake.
Jackie says
We do have life insurance. We bought one policy when we were first married and increased it a little when our first child was born.
JulieK says
eek!! we don’t. well I don’t. Matt does. But I don’t know if it’s a good one or not. We need to flesh this out more!
Stefani says
I used to have life insurance when I worked for my last employer. I haven’t had it since I have been self employed. Been something I have been thinking about recently though.
Andrea says
My husband has life insurance through his employer. Besides that we don’t have any life insurance. Thanks for the reminder that we need to change that!
Pam says
We decided to get life insurance as soon as we were married because we wanted to be prepared “just in case”