My wife and I are constantly talking about how much ‘adulting’ we tend to do on the weekends. We reminise about low stress, high energy, and lament the now 20+ years of adult life. Thankfully, we have been in a position to plan and adapt. Through planning we have been able to weather a lot of storms and these adult decisions have removed some of the otherwise overwhelming burden.
Even in my 40’s I feel imposter syndrome on a regular basis. However, these experiences and making tough decisions about money and planning continually pay off. One of my choices that I will never see the benefit of, was purchasing Life Insurance. And, if you still feel like a teenager, but aren’t one, now is the time to shop because life insurance rates will never be lower.
As teenagers launch into adulthood, its typical to take on the following adulting responsibilities. Get a car payment, get a mortgage, have kids, buy more stuff and for some, increase your debt. Being responsible means maintaining a lifestyle that your significant other and kids enjoy. If they rely on you for support or income, then that lifestyle must change at your passing. Thankfully there are tools available and generally inexpensive to protect your ‘life’ even after you are gone.
We buy icloud and other back up storage for our phones, just in case it gets damaged. Take that montly payment and put it toward backing up your family, in case you get damaged.
For early adulting, I recommend Term Life Insurance. Often, if you are in your 20’s you can get $500,000 of coverage for less than $100 a month and if you are healthy, less than $50. This benefit would help pay off a home, so your familiy doesn’t have to move or worry about finances when you pass. Or, put those kids through college and launch them into adulthood, even if you aren’t there to help them move into their college dorm.
Think of your life insurance premium as a subscription fee.
Life insurance is adulting, it’s an uneasy conversation, but its’ one of the most empowering choices you can make. So, if you still feel like a teenager and starting to make adulting decisions, add shopping for Life Insurance to your list.
Quotes are free and fast, give me a call to get started.