3 thoughts on “Employee Benefits Time To Enroll-roll-roll-roll…

  1. Great review of insurance. Definitely those in their twenties who have started a family need life insurance, because picture this scenario – you’ve married the guy of your dreams in college. After a couple years of work, you get pregnant with your first child and then proceed to have two others. After the first child your husband decides to quit his job to raise the children since your income is higher and you both really want to be there for your children. Things are going great, with the kids ten, eight, and six, when BANG – you’re in a fatal car accident. He is now ten years out of work, all of his experience is old and outdated, and he needs to get a job to try to support your three kids. What kind of life will your children and husband have?

    But wait, just after you had your first kid, you got a $1 M life insurance policy on yourself and the same on your husband. Now your husband cashes in the policy and is able to pay off the home and generate enough income to replace your income. This allows him to finish raising the kids, send the kids to college, and support him while he gains the skills needed to get back into the workforce. This only cost you $230 per year for each policy because you bought a 20-year level term policy in your twenties. Great job!

    If you hadn’t died, the policy would have expired twenty years later, which would be fine because you would be in your fifties, the kids would be out of the house, and you would have a couple of million dollars in the bank because you had saved regularly.. For peace of mind you would have spent only $4600 each over twenty years. Because of your new financial status, you would no longer need life insurance and could just let the policy expire..

    Liked by 1 person

    1. Thank you, the Small Ivy/Investor for this extensive comment. I truly appreciate it! Grasping the idea of purchasing life insurance can be incredibly difficult and complicated. Especially for someone in their 20s, how do you convey that purchasing life insurance could greatly benefit them/their family in the future? As always with any form of investing, time is the best advantage so starting as early possible is pivotal. Thank you for your comment, once again!


Love to hear from you!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s