There are only a few life events that would compel you to actually research and learn about a boring topic like life insurance. Having a baby is one!
In the unfortunate event of an untimely death of you or your spouse, your children could be left with almost nothing to cover living, educational, and medical costs! We’re not here to sell you on life insurance, but it’s truly amazing how cheap it can be for a lot of coverage! Very much worth it in our opinion!
Regardless of whether you decide to purchase term or whole life insurance, we’ve found 5 facts and tips about life insurance below that we thing every parent would want to know!
1. Buy Your Life Insurance Policy Early and Get a Discount!
Every day that you wait is costing you in most cases! On average, a healthy, non-smoking 20 year old male could get $500,000 of term life insurance for only $32 per month. By comparison, that same male would pay roughly $111 per month at age 50!
You can Click Here to figure out how much life insurance you may need and also look at cool college education savings/life insurance combo plans.