Would You Buy a Life-Insurance Policy From This Machine?
4 thoughts on “Would You Buy a Life-Insurance Policy From This Machine?”
I have to say, while looking through hundreds of blogs daily, the theme of this blog is different (for all the proper reasons). If you do not mind me asking, what’s the name of this theme or would it be a especially designed affair? It’s significantly better compared to the themes I use for some of my blogs.
Saved as being a favored, I truly like your website!
Awaiting more posts!
How much life insurance coverage I need to buy was something that really wasn’t important to me until I got married.
My first policy was a $250,000 30 year term life insurance policy and I thought that was plenty. It was not until we had our first son that I quickly realized that was not nearly enough.
After his birth, I decided to increase it substantially. That was over two years ago. With us in the process of building our first home and a second son on the way, I’m left wondering even with that increase if I really have bought enough life insurance.
Update: We now have our third son and I have increased the amount of life insurance I have on myself. Check the end of the post to find what I’ve increased my term life insurance to and my rationale.
I know many struggle with this same decision so I wanted to shed some light how much life insurance is enough. First things first, life insurance is for one purpose: income replacement. While there are times where life insurance can aid in more complex estate planning strategies, a majority of the time it’s purchased to take care of your family once you’re gone. My reasoning for purchasing life insurance is that I want to leave my wife and kids without any debt and the ability for my wife to not worry about finances in the event of my unexpected passing.
I have to say, while looking through hundreds of blogs daily, the theme of this blog is different (for all the proper reasons). If you do not mind me asking, what’s the name of this theme or would it be a especially designed affair? It’s significantly better compared to the themes I use for some of my blogs.
Saved as being a favored, I truly like your website!
Awaiting more posts!
How much life insurance coverage I need to buy was something that really wasn’t important to me until I got married.
My first policy was a $250,000 30 year term life insurance policy and I thought that was plenty. It was not until we had our first son that I quickly realized that was not nearly enough.
After his birth, I decided to increase it substantially. That was over two years ago. With us in the process of building our first home and a second son on the way, I’m left wondering even with that increase if I really have bought enough life insurance.
Update: We now have our third son and I have increased the amount of life insurance I have on myself. Check the end of the post to find what I’ve increased my term life insurance to and my rationale.
I know many struggle with this same decision so I wanted to shed some light how much life insurance is enough.
First things first, life insurance is for one purpose: income replacement. While there are times where life insurance can aid in more complex estate planning strategies, a majority of the time it’s purchased to take care of your family once you’re gone. My reasoning for purchasing life insurance is that I want to leave my wife and kids without any debt and the ability for my wife to not worry about finances in the event of my unexpected passing.