This post is sponsored by Haven Life but opinions are my own.
You guys know I’ve been busy lately. I’m running three businesses, all while parenting and helping to manage our household. Every morning I wake up with a To-Do list a mile long, which often makes prioritizing what needs to be done first rather difficult.
A lot of the time it seems like everything is important, but when I step back from the madness, it’s the two (well, ok, three) sweet boys that live with me who are most important. Mal and Quinn (and Murphy) are the reasons that I work so hard and run around like a chicken with its head cut off. I want to make sure I can take care of them the best I can.
I know I don’t usually blog about financial topics, but I’ve recently learned firsthand how important it is to talk about life insurance (despite how unpleasant it is to think about). I mean, you’re talking about what would happen to your family if you passed away. But, it’s important to have a backup plan. If I wasn’t around, we’d be in a very bad financial state, and the last thing I want to happen is add money-stress on top of loss. Sure, Mal has a good job and we have a good nest egg in savings, but with our mortgage, child care, college tuition on the horizon, plus other expenses, life would become much more difficult for my family.
Purchasing life insurance might seem like a daunting task, but new online options like Haven Life, are designed to simplify the life insurance process for busy families like mine. I’ve worked with Haven Life a number of times over the years (you might remember my past blog posts), and I trust them a whole lot as individuals and because I know they care about their customers.
Many people, myself included, put off buying (or even thinking about buying) coverage because of a number of misconceptions:
- It’s expensive - Term life insurance is actually quite affordable. A 20-year, $500,000 policy starts at about $21 per month for a healthy 37-year-old woman. Pricing could be more, of course, if you have any health conditions.
- It’s time-consuming - It used to take several weeks to apply for coverage and get a decision. With Haven Life, you can find out immediately if you’re approved for coverage, and, if so, start it that day. In some cases, a medical exam isn’t needed to finalize coverage, which is based on health information in your application.
- It’s challenging to choose the right coverage amount - You don’t need to be a financial expert to make smart money decisions for your family. I’m certainly not, but I appreciate being able to access smart tools online. Haven Life offers tools like an online life insurance calculator which can take a look at your family structure and financial situation and provide you with a recommendation for coverage.
- Only one spouse needs it - Both partners need coverage, even if you don’t technically earn a salary. If someone depends on you in anyway, you need life insurance. For example, if you’re a stay-at-home parent and something were to happen to you, childcare costs are very expensive for a spouse to take on solo.
Mal has had a life insurance policy for many years now, and it took several weeks and plenty of paperwork for him to get covered. As people who prefer digital experiences, that’s not exactly up to par with our expectations these days. That’s why Haven Life, on the other hand, offers the best of both worlds. They’ve made the whole process easy, and they’re wholly-owned by MassMutual, so you get the convenience of buying online, and the confidence of purchasing coverage from an established insurer.
And you’re probably wondering: What about my coverage? Because of my preexisting condition (ulcerative colitis), I’ve been denied again and again. Prior to my ulcerative colitis diagnosis, I was the healthiest person you’d ever meet. It totally came out of the blue, and it really can happen to just about anyone. If hadn't put off buying a policy, I would have the coverage I needed before being diagnosed. Hindsight is 20/20, and now I truly understand the importance of not putting off important financial decisions. I really wish I knew about the importance of life insurance because now I don’t feel like I’m fully taking care of my family with regard to our finances.
At the end of the day, life insurance offers peace of mind that our families will be financially protected if we’re no longer around. I definitely don’t want to leave my family without a financial safety net, which is why Mal and I must seek other ways of saving for the unexpected. I don’t want you guys to learn the hard way, so please don’t put off buying coverage if you know you need it. My friends at Haven Life have made the process simple and not overwhelming, so you can easily check it off your mile-long to-do list.
Haven Term is a Term Life Insurance Policy (ICC15DTC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111 and offered exclusively through Haven Life Insurance Agency, LLC.