The following is a sponsored post in collaboration with BraVoMark and Mason Finance. As always, opinions are my own.
I was almost 35 when I lost my job over five years ago. I was married with one child, and while health insurance was always on my mind, life insurance was never top of mind – until I was unemployed. It seemed a little silly, but within a month of being unemployed, I found myself purchasing a term life insurance policy. I’d always had some coverage through my employer, and finally realized how important it was that my family be protected if something were to happen to me.
Even if you are covered through an employer, you may want to consider multiple life insurance policies. And it’s okay to reevaluate your policy from time to time. After more than three years with the insurance company I signed up with in 2013, I no longer felt comfortable with the company, how I was able to pay and the overall coverage. It didn’t help that my agent kept changing, and I couldn’t get a real person on the phone. I reached out to a couple of companies for quotes and within a few days I was approved through a new company, paying a little less in a premium, but increasing my policy exponentially.
I did all of this without even having to have another physical, since I was in relatively good health.
I have a term life insurance policy that is good until I’m almost 60. A term life insurance policy guarantees payment of a death benefit during a specified term. At the end of this policy, I can choose to renew it, select a different term or change over to a permanent coverage. I just like knowing that if I were to pass away, my husband wouldn’t have to be overly concerned about losing our home.
I know a lot of friends who don’t have life insurance policies. It took a major life event to open my eyes to needing one. Just know that it isn’t too late to get a policy, and it isn’t as expensive as you might think! I also recommend checking out Mason Finance for more explanations on the different types of policies one can purchase.
Do you have life insurance? Were you under the age of 35 when you purchased your policy?