This Blog is about life insurance. I honestly don’t understand why people don’t buy more term life insurance. It’s so dang cheap!!! And so so smart!! And for the people that have life insurance through their employer, I can guarantee you that it’s not nearly enough!!!
Some people do get more voluntary life insurance through their employer which is sometimes portable, but most employers don’t offer that and even if they do, most employees don’t buy it!
So if you have a policy through your employer and you get sick and lose your job, then what? Well, you can’t buy a different policy since you’re sick, so you’re just outta luck!
I keep hearing stories of people dying and their family having to scrounge money together for a cheap funeral… can’t afford even a obituary…. can’t even rent a casket…. stories like that…. C’mon, man! Take better care of the ones you love!!! That doesn’t even address lost wages or other future financial plans that are now demolished…. Take care of your loved ones!!
This stuff costs SO little! And the younger and healthier you are, the cheaper it is. So your best bet is to get a policy that lasts 30 years while you’re in your 20’s. How much coverage should you purchase? Well, Dave Ramsey says to get a policy for about 10 times what you earn in a year, but for most people, that just seems like too much! Most people end up getting $250 or $500K. If a healthy 25 year old guy buys a $250K plan that lasts for 30 years, it could cost as low as $18 a month or $215/year with that price locked in for the whole 30 years. That’s so cheap for great peace of mind!!
So buy this stuff… take care of your loved ones!!!
Thanks and have a great, SAFE day!