If you are just starting a family, life insurance is probably the last thing on your mind. When you’re preparing to be a first-time parent, you’ll likely have a few overwhelming moments, but purchasing life insurance (or purchasing more if you already have it) shouldn’t be one of them! There are many things new parents have to consider when it comes to starting a family -- car seats, strollers and cribs are just some of the immediate decisions you’ll have to make. But, if there’s one thing that shouldn’t be a tough decision, it’s whether or not you need to purchase life insurance or buy additional life insurance. If the size of your family is increasing, so should your life insurance policy. It’s as simple as that!
There are many options for life insurance policies, and young families are at the prime age for buying. Since young families are often in good health, they can qualify for lower premiums! Deciding on the right life insurance policy for you can be confusing, but partnering with a knowledgeable PivotCare team professional will help you navigate the life insurance landscape and purchase the policy that’s the right fit for you and your family.
Why is it important to make sure you have the right amount of life insurance for your growing family?
Starting a family is one of Life’s Pivotal Moments.
But, what are Life’s Pivotal Moments? They’re the scenarios that are sometimes monumental and sometimes subtle, but they can change your life forever. For example, getting married, having a baby, getting promoted at work, and deciding to retire are all pivotal moments that can affect your life -- and your life insurance policy. Adding a child to your family changes your budget and increases expenses. On the base, surface level, a baby means that there will be a person in your life who is totally dependent on you for everything. Since your life insurance policy is meant to cover your family, you’ll most likely need to increase your policy’s benefit so that each member of your family is covered for the foreseeable future. Or, if you don’t have a life insurance policy yet, starting a family is the perfect time to buy life insurance.
Besides the sleepless nights and endless loads of laundry, new parents may decide to change other aspects of their family’s life. For example, the size of your home may increase, or you may need to trade in your small car for a larger and safer vehicle. These changes may increase your monthly budget, as well as the amount of debt you intend to take on. Deciding to start a family also typically means a college education to plan for. Increasing your life insurance policy, or buying your first life insurance policy, is one way you can financially protect your family, now and even after you’ve passed away.
There are many options for life insurance policies, and young families are at the prime age for buying. Since young families are often in good health, they can qualify for lower premiums! Deciding on the right life insurance policy for you can be confusing, but partnering with a knowledgeable PivotCare team professional will help you navigate the life insurance landscape and purchase the policy that’s the right fit for you and your family.
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