Life Insurance For First Time Parents
There been a lot to celebrate lately. 50th Super Bowl, the Broncos won (!!), Peyton Manning won his 200th game as starting quarterback beating out Brett Favre, and according to the NFL a whole lot of you Denver Broncos fans will be celebrating the arrival of a little NFL baby in about nine months time. Congratulations, all around!
In case you missed the NFL Super Bowl Baby spot because you were too busy cheering, or making babies… Here it is again. Plus some helpful advice on insurance for your growing family.
Super Bowl Babies Could Mean Changes in Your Life Insurance
Having your team win the Super Bowl is one thing, but nothing beats the feeling of becoming a parent. But, with that joy comes great responsibility. And we’re not talking how raising him or her to become a devoted Broncos fan, we’re talking about protecting that child from everything that life can throw his or her way.
Life insurance is a crucial step in planning for your family’s future
Becoming first-time parents can be scary. Your life is no longer just your own, you have a person who is counting on you to protect and guide them safely through life. Besides teaching them about stranger danger and how to look both ways before crossing the street, life insurance is a way that you can provide your child with a financial safety net, in the event of a parent’s untimely death.
There are generally two types of life insurance:
- Term Life Insurance
- Permanent (a.k.a. Universal, a.k.a. Whole Life) Life Insurance
Term life insurance is pretty self-explanatory. Your policy is good for a specific term, a period of time, most often between 10-30 years. The term policy will also entitle you to a specific amount of money. This type of policy will typically be a little cheaper than permanent life insurance, but this is only because it is a limited policy. The downside of a term policy is that all of your premiums are lost unless you die while the policy is still active.
For young, healthy parents, there is a better way for you to invest your money when it comes to life insurance. Get a permanent life insurance policy. With permanent life insurance, you are covered for the rest of your life, whether you life 30 more years or 100 years.
Other benefits of a permanent life insurance include:
- Saving and investing your premium payments
- Access to investments and savings while still living
- Investments and savings are tax-free
- Premiums stay the same
There are so many things you need to think about and get ready before the baby arrives than nine months will fly by. To get the best life insurance policy for both parents, and secure your baby for the future no matter what happens, talk to an AAI insurance broker in Thornton, Colorado and we will help you find the best policy for your family. Let us do the work for you, and you can focus on baby names, nursery decor, and baby-proofing your home.