Life is full of ups and downs. It’s also filled with predictable events and events that totally blindside you. That is why it’s always a good idea to be prepared. Some events you plan for, others just pop up totally unexpectedly. This is why it’s vital that you have a great life insurance policy. It’s better to be prepared then not prepared at all.
I understand that it’s not always easy to find cheap term life insurance. Some of the quotes we’ve received over the years have been pretty pricey. I honestly don’t know how individuals or young adults just starting out can afford insurance these days.
Sometimes even “live events” require insurance. This is what really blew our minds. We didn’t realize when we were first starting out just how much things we needed to protect ourselves and our family, and I’m not just talking security systems. I’m referring to insurance policies.
When it comes to insurance most people don’t think about it until it’s too late. The time to consider insurance is when these life events first happen, not after the fact.
If you are unsure of if you need insurance, or what kind of insurance might be needed, the time to educate yourself is while you are in the process of taking of making the major life decisions. For example, when buying a new car know what your insurance needs and options are BEFORE a related crisis happens, like a car accident.
Insurance needs vary greatly from person to person. Here are a few examples.
- Buying a New Car (Car Insurance): Beyond the sale price, what other costs should I keep in mind?
- Getting Married: How might our individual credit and legal histories impact our combined
financial future? - Buying a New Home (Homeowners Insurance): How would I handle the financial burden of an unexpected disaster
affecting my home? - Life Insurance: How will my family be financially should something happen to me and the loss of my income?
When my husband and I got married we eloped. The idea of life insurance, combining our income, our credit histories and even home owners insurance were not even a thought in our minds. Looking back on it we should have done our “homework” before we eloped.
We relied on our parents for insurance advice and did what they told us we should do. In hindsight we should have done some research to find out what would have best suited our needs.
I feel confident that we are OK with our insurances now, but looking back on when we first got married, we didn’t have a clue what was best for us. While it is okay to ask others opinions and get referrals, the ultimate decision needs to be yours and you must do what is best for YOU and no one else.
Things to take into consideration include;
- Worst case scenarios.
- Deductibles.
- Out of pocket expenses
- What is covered and what isn’t covered.
- Coverage terms
- Health requirements
The last one scares me the most. I am not in the best of health, and I worry about finding other insurance in the future (we currently have health and life insurance through my husband’s employer) when we’re either retired (which is not for a very long time from now) or heaven forbid he loses his job. My employer doesn’t offer anything (no life insurance, no health insurance…).
I especially worry about what will happen should anything happen to my husband. I rely on him for these types of insurances. He would be okay without me, but I wouldn’t be without him. That is why I am always bringing up the subject of getting additional insurance, just to be on the safe side. Even talking about it stresses me out.
I wish they taught classes on these things while kids were still in high school and college. I have no clue how we’d even begin to talk about these things with our now adult children. Just helping my daughter pick out health insurance (she has to pay on her own – her employer doesn’t offer it) was a nightmare. There was no amount of Advil to handle those headaches from that situation.
What are YOUR thoughts on insurance and the various types available? Do you think it’s worth it to have different types of insurances, or just the main two (life insurance and health insurance)? Feel free to comment and share your thoughts. I always love to hear from readers.
Kimberly
*This is a paid partnership between SheScribes.com and Responsival. Although compensated, the opinions expressed are my own and not influenced in any way.
shelly peterson says
I recently dealt with my daughter going to prom and now her graduation but have never bought a new home or gotten married.
Charity L. says
We have bought a home and have gotten married, but it was having children that was a monumental event! Would have been nice to have more insurance for that purpose.
Maralea says
We bought a new home about three years ago, however, I would say our biggest life event would be when our kids were born.
Cynthia R says
I’ve gotten married, bought a house, divorced, now looking for a new home.
Anne says
I did have a car accident once, and the insurance helped a lot. And we’ll be looking to buy our first home early next year.
D Schmidt says
We purchased a new home recently so that event is definitely closest to my current situation! Its nerve wrecking and expensive 😉
Heidi Embrey says
I like the part where they’re all happy about their new baby and then it gets a fever of 103 lol Been there done that!
chris says
The closest event that has happened was buying our home. It was two hours away from my family and when it was inspected they said everything was fine. we moved in and guess what (not all fine).
It’s crazy process to buy a home and then to get stuck with unexpected expenses on top of that. Def a learning experience and I will do my homework iof we buy again regarding home inspections!! next up a son going to college in a few years can’t imagine paying for that 🙁
BeckyM says
Our biggest life event was having our two little boys… they have changed everything!
Kimberly Schotz says
I think we have done most of it marriage, kids, bought a house, and more kids.
Brynn says
We had a huge life changed a few months ago when someone texting and driving hit us and caused a horrible wreck where my husband and I were injured, our car totaled, our jobs lost and so much more! It has turned our life upside down but we are getting through it day by day.
Jessica To says
I’ve had several similar experiences to the Foxes: a new baby, building a house and marriage.
Nancy says
We have experienced marriage, a new home and babies.
latanya says
we are going through the process of buying a house now
Debra Hall says
none of those things my life is boring
shaunie says
Yes, I once went to work with two different shoes on
katklaw777 says
My Hubby had an accident at work and is just now going back…having him home has been quite an event for both of us!
amanda whiltey says
i have had a new baby and my husband has experienced job loss.
MaryJane says
Our biggest life event other than having children was when we sold our home and went full time RVers and workcampers.
janetfaye says
My biggest life event was having 3 children and buying a new home.
janetfaye (at) gmail (dot) com
Allisha Gold says
For me I had a car that had just been purchased a few months prior completely totaled. Terrible event, but it was several years ago and a good life lesson.
Yona Williams says
The closest life event I can think of was relocating from one state to another (after selling a house), and moving into an apartment that we need to get renter’s insurance for.