How We Grown but Uninsured?
Millennials are starting businesses, getting married, and starting families, but many are missing one important part of the equation, Life Insurance! I never really understood how important life insurance was until I had my son Jeremiah. And honestly it didn't hit me until a few years after he was born that I needed to get it. Questions started going through my head like, what will happen to my son in the event that something tragic happens to me?
I know that these are conversations that many don't like to speak about but it is important not only for you, but for your family to plan ahead. Everyone so quickly runs to fundraising sites like GoFund Me to raise funds for funeral expenses instead of being informed way in advance about different options available for life insurance. I spoke with Crystal Summers who is a licensed insurance agent with State Farm in Newport News, VA. She specializes in life insurance plans as well as commercial plans for small businesses.
Being a single mother I wanted to know what plans are available for families who tend to be on a tighter budget. Ms. Summers informed me about two different life insurance options right away, Term Life Insurance and Whole Life Insurance. With Term Life Insurance the company will put you on a set premium for a set number of years. There are some insurance carries that will allow for the Term Life policy to be converted to a whole life policy, but not all carriers do, so be sure to research before signing up. With whole life insurance you're on a steady premium for the duration of your life and it adds cash value. The idea is to get insurance now, because honestly you never know when you or a loved one may need it.
After speaking with Ms. Summers I now understand even more why life insurance is so important. If you feel as if you're in a financial bind, the best option would be to speak with someone about a Term Life Insurance Policy that would work with your budget.
As we get closer to finishing out 2017 we have to make the decision to make better decisions to Protect our Purpose.
"Always do your research on the company you're picking up a policy through" -Crystal Summers