It’s the one thing that we don’t want to think about, but it’s often times the single most important thing we can do for our families. Life Insurance. Many of us might know what it is and what it means, but due to our superstitions, lack of wanting to think about it, and fear of the unimaginable, we simply add it to our “to do” list. No…not the “to do” list that we actually look at…the one that we say “Oh, I will get to that eventually.” Well, I am here to tell you that “eventually” needs to be right now. If you are health-conscious and care about the health of your family as much as I do, I have a link within this blog post from a life insurance company that was made just for you.
Even as I write this post, I am thinking about my “eventually” list, knowing that while I do have a current life insurance policy, I still need to add my third child to it. Awhile back, I grabbed my life insurance policy through a company that has been a part of my life for a long time. I did it right around the time that I was setting up my retirement account, thinking about emergency savings, and paying off debt. See, with all of this “adult stuff” and preparing my family for financial stability, I was overlooking the starting point. The one place to begin that would set my family up for success if something happened to me and I was no longer physically able to provide for them. That was setting up a life insurance policy.
I listen to a few financial guru’s, but my favorite by far is Dave Ramsay. Dave has a wonderful financial freedom plan. At the top of Dave’s list for financial security, he lists a living will and life insurance as a top priority. Even though this subject is a tough one, it is our job as parents to have these difficult discussions.
Three Steps To Setting Up A Life Insurance Policy For Your Family
1. Be Brave. You are already focusing on the food you put in your body and taking good care of yourself, your kids, and your loved ones. You care so much for them and would do anything for them, but if something happens to you or a family member, you must make sure the family is taken care of financially. Be brave and know that mentally you are doing this for them. Get ready to spend the time needed to think about your current financial obligations and what it would take to leave your family debt free and comfortable financially.
2. Find A Company You Trust. As you can imagine just like any industry, the life insurance industry is a profitable one. Not everyone can qualify for life insurance, but for those that do, there are a lot of options. Do you select a term policy or a whole life policy? How much money do you really need? What does that mean for your monthly cost and how will your family receive the money if something happens? All of these questions are extremely important and must be addressed by someone who has your best interest in mind. (teaser…I have a wonderful suggestion on this for you coming up from the awesome company that sponsored this post).
3. Pick The Right Executor. While the role of an Executor is usually carrying out the will, you can also trust them with a copy of your life insurance policy. It is important that they understand your life insurance policy, at least on a basic level, so they can help get the money to your loved ones in the horrible instance that something happens.
With the right mindset and knowledge, the process of picking a life insurance company and policy can be easy (and sometimes even fun). Yes, I said fun. The reason I said that it can be fun has everything to do with the the company that asked me to write this post. Health IQ. Health IQ’s mission believes that the best way to improve the health of the world is to celebrate health conscious people like you through social and financial rewards. One of those financial rewards includes a discounted rate for health conscious families. And yes, omnivores may apply! But there are added benefits and possible discounts for vegans and vegetarians! Check them out either way. Read more about Health IQ’s mission and why their founder started the company and meet the team members who design their fun daily quizzes. I promise you will be treated wonderfully and the team will continue to help you find the right life insurance policy for your healthy family. Email me at [email protected] if I can answer any questions for you or if you have any specific thoughts about Health IQ. I would love to hear from you.
As a final note, I wanted to say that the entire family should have life insurance, including your kids. It might be the best gift you can give them. My wife is uninsurable as an adult due to being diagnosed with a chronic illness. If it wasn’t for her parents buying her a life insurance policy early in life, she might be uninsured today. Now go do what you know you have to do…take this big step in taking care of your family.