04/07/2024
Getting term life insurance is not one of the 7 Baby Steps. If someone depends on you or your income, you need to get term life insurance in place as soon as possible.
I only recommend TERM life insurance.
Why?
You get the same amount of coverage for a fraction of the price of a whole life policy.
A term policy lasts for a set number of years (usually 20) and you pay a low rate each month for the coverage you need. At the end of that term, yes, that policy has ended, but what the critics fail to remember is that you've had 20 years of affordable coverage. In that time, you can use the money you’re saving to pay off debt, save for emergencies, and invest the difference you would have thrown away on a more expensive whole life policy.
If you're working to get out of debt and following the 7 Baby Steps, you'll be covered with your investments after 20 years, and you won't need life insurance anymore.
Don't throw your money away. Think for yourself and get the coverage you need, not the policy that someone making a commission wants to sell you on.
I recommend you get 10 to 12 times your annual income worth of term coverage.
For stay-at-home parents, I recommend a term policy valued between $250,000 - $400,000.
✔️ Get a free quote today! Inbox me for more details.
Life insurance is one of the easiest ways to protect your family’s finances—and their future. Get your free term life quote.