Bonjour lecteurs! After all the thrills of Christmas, I am off today to talk about some serious topic. Indeed, as soon as we bought our house, we also decided to invest in our future, and we got life insurance with our bank as we signed our mortgage. Why Parents Should Get a Life Insurance? Do you have one yourself? Well, let me tell you why you should consider one in 2022.
You don’t know what your future will bring. You might be in a good phase of your life with succés and health now.
But it can be quick to change. We have seen some drastic shifts over the last two years or so.
Personnellement, I consider myself healthy, but I am not getting any younger and life is unpredictable.
Many insurance policies are available depending on your needs or your budget.
Protect Your Family
As soon as we had Stanley, Grumpy Boyfriend and I decided to invest in life insurance.
Simply to protect my other half but also my son. As he depends on us financially.
It is good to know you have a plan in place to protect your family and your loved ones if you were to go suddenly.
This is particularly important if you are a parent with small children or if one of you relies beaucoup on the other’s income.
Covering The Basic Expenses
There are many types of life insurance out there. But it is safe to say you should go for an option that can help your family to cover the basic expenses may you not be there anymore.
Consider also how long you want to be covered. It depends on your budget bien sûr,
Calculate what your partner and children need as a minimum to be looked after.
A bonne idée would be to take a policy for 10 times your annual salary so that you can have your mind at peace.
Paying Off The Mortgage
We decided to opt for one so that our mortgage will be covered may Grumpy Boyfriend or I would suddenly go.
The money received can be used to repay the debt so that your family doesn’t have to worry about it if half your income disappears.
The total depends on how big your mortgage is and how much left you have to pay off.
I would say such life insurance would be a minimum, but you can even invest more.
Cover Potential Funeral Costs
Some policies also give you the possibilité to include funeral costs. Less stress for your famille!
Plus, we don’t realise it, but funeral costs can end up being very expensive.
The last thing you want is for your death to add extra financial pressure to your loved ones’ grief.
There will already be a lot to process, both emotionally and financially.
Not Worrying About Your Children
Personally, I made the decision to take life insurance because I want my son’s future to be as safe as possible.
I want him to be fully covered financially until he is old enough to support himself.
So may I not be there, I want to know at the back of my mind he will be covered. and start his adult life in the best conditions possible.
I think it’s the minimum I should do for him. After all, as his parent, I am responsible to provide for him and I don’t think it should cease if I was to die.
What are your thoughts on this?
Have you invested in life insurance yourself? Is that a choice you mainly made to provide for your family? What does your insurance cover?