Do You Have Life Insurance?

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.

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  1. Terri Herman says

    Good move! It is important that women get enough coverage because the work/services we provide our families are priceless! To replace all a SAHM does would break a widower. Please do get a will, too. It doesn’t have to be complicated but it would help out with taxes and your wishes for your children would be clear. Thanks!

  2. Tammy S says

    Both my husband and I have life insurance and a will. After our daughter died at 4 months we decided that we really needed to take care of both these things. You just never know what the future holds.

  3. says

    Right now, my husband has life insurance but I do not. We’re okay with that for now, because if something were to happen to me, I know they would be okay with just daddy. I do think it’s an important thing to think about when you’re a parent though!

  4. Anne - Mommy Has to Work says

    We do not have life insurance either. But we do need to get it!

  5. Carolyn G says

    Great info. We have life insurance but probably not enough. My hubby also has it through his work.

  6. says

    Oh gosh! I havent had a life insurance. I used to have one but cancelled due to financial stress. I hope sometime in near future, I will open one.

  7. says

    Congrats on your decision! &We don’t have life insurance either, but we are planning on getting it soon since it’ll be easier to get now that we’ll be married in a few weeks.

  8. says

    Luckily, my mom made me get life insurance when I was 20. So i’ve had it for 10 years now. Unfortunately, its term life insurance and not whole.

  9. says

    I have a small policy on myself, a small policy for my daughter and my husband has a big policy. If/when I go back to the workplace, I will hopefully get another bigger policy through my employer!

  10. says

    I used to work in the life insurance industry, so my husband is maxed out through his work plan and when our daughter was born we got a 20 year joint policy that would help me with bills and the mortgage if he died and would provide funds for childcare and housekeeping if I died.

    My family is a prime example of “it can never happen to me” – my sister became a widow when she was 30 when her husband died in a snowmobile accident. Totally unexpected, and she would have been financially devastated if he had not had life insurance.

  11. saminder gumer says

    i do not have lice insurance yet, but i have been thinking about getting it.

  12. says

    We have spoken about life insurance on and off over the last two years. It’s a tough subject because no one wants to think about the worst case scenario but it really is so important!

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