When I was younger my family always told me to initiate a life insurance policy early. However, being young and healthy I never really took it seriously because I didn’t anticipate my own mortality. After I started a family it seemed my money was going to other debts but the need for cheap life insurance became more pressing.
I spoke with a really informative financial advisor who showed me how hard it would be for my wife to support our family if something happened to me and I didn’t have a policy to take care of them. However, since I waited to start the policy it is more expensive then it was when I was 25. I was concerned about over-extended our family in order to pay the premiums. My advisor suggested I consider life insurance premium financing.
I feel so much better knowing that my family will be taken care of regardless of whether or not I am physically providing for them. We have three kids and a mortgage payment I cannot believe I allowed myself to go without a policy for so long and I am grateful this was brought to my attention before anything happened.
Monday, April 20, 2009
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1 comments:
Wouldn't it have been less expensive to buy a term life insurance policy?
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