Couple Money

Covering Your Family’s Needs with Life Insurance

saving money on insurance

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If you haven't already, set up sometime during your next money date to sit down and make sure you have enough life insurance to cover your family's needs.

It may not be a fun thing to think about but as a couple with kids we knew we needed to review all of our finances this year to make sure the big things were taken care of.

If your family situation changed since the time you've bought a policy, re-calculating your needs can be significantly helpful to your loved ones.

Finding the Right Number

Every family is different, but in general when you're trying to calculate how much coverage is enough, there are a few factors to look at:

Whatever amount you two come up with, please make sure you each understand each other's view.

Getting this done now when you're both in good spirits and health will make a distressing situation a little less painful.

Getting Life Insurance

If you're young and in good health, you'll be surprised at how cheap term life insurance premiums are.

Better to get it now to take advantage of lower premiums than waiting. As you get older it can get more expensive (still an affordable option my opinion though).

HavenLife can be a helpful resource for finding you a deal with term life insurance.

Thoughts on Life Insurance for Parents

If you're a parent, have you checked your life insurance coverage? How did you determine what you needed?

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