So we’ve decided. There will be a 3rd baby added to the Mercurio clan. When? We haven’t set a date because neither of us want the stress of that added to the mix. Right now we are just satisfied that we have come to the conclusion that our two girls need another sibling and hopefully a boy at that.
The next step to the planning is to finally get some life insurance. I am ashamed to say that neither my husband or myself have life insurance OR a will. It’s completely horrible, I know. Now that we have decided that we will be done with babies after we have a third we think it’s a great time to start looking into it.
Here are some reasons we’ve been discussing as to why we need life insurance and the different types of insurance that we found through Genworth. I hope they help you too:
1. LIfe insurance can be used to pay off your debts. If not, your spouse will probably have to pay it off. No one wants to be left with the burden of bills.
2. The fact of the matter is, we all probably say “That’ll never happen” but guess what? We can’t predict the future. You could as healthy as an ox but that could change tomorrow.
3. Life insurance provides financial support to your spouse and children. Why do women need life insurance? Easy – life insurance is a safety net. More woman becoming the main bread winner in the family so it’s important to get your life insurance coverage so that your spouse and kids are covered if something should happen to you.
4. Disabilities after a death. If you pass away and your spouse becomes disabled then s/he would then be unable to financially support the family. Life insurance can provide the extra help for bills until they get back on their feet.
5. To cover your children’s future education expenses if you are not there to provide. Yep, life insurance can also go to education expenses.
Disclosure: This post was inspired by Genworth Financial. Opinions expressed are my own. For more information about the different life insurance types visit the Genworth Financial website.