Three years ago (almost to the day) Nate was switching to a new career. A career he had long desired, but had been unable to begin to that point: A career in life insurance and financial planning.
Three years ago (almost to the day) I was supportive of Nate's choice to move into financial planning, but unsure of the exact importance of life insurance. It seemed like a superfluous expense, hinging on the threat that I would die someday. But I quickly learned that life insurance is so much more.
Life insurance is more than a lump sum of money for my dependents. On the most basic level, life insurance is peace of mind. My family would be taken care of. Nate could afford to soldier on and raise our family.
But beyond that most basic level of financial planning, life insurance can be a tool. A wonderful resource. Life insurance can be an investment. We have policies set up for both of our children. If they mature to healthy adults, that money can be taken out to pay for their education. If, God forbid, one of our children develops a disease that would otherwise exclude them from qualifying for life insurance as adults, they already have a policy grandfathered in. I know I am doing my part to provide for their financial futures - no matter the outcome.
And if Nate and I someday want that boat in the Caribbean? That RV to drive across the US? We can cash out our policies to do so. It's pretty amazing: we have insurance to protect our family during our working years. And when the kids are out of the house, we have the option for cash to have fun!
We tend to think of financial planners who shout "YOU WILL DIE! Protect!" in their most menacing voices, to scare us into buying policies. I am proud to be married to a man who instead shouts "YOU WILL LIVE! Plan!"
September is Life Insurance Awareness Month. Let me know if you are interested in learning more. I blogged about this to participate in the Life Insurance Movement. Because awareness is key. #LifeAWARE