Life Insurance for New Parents
When you’re young, you feel invincible. You are carefree and don’t have to answer to anyone but yourself. Then you fall in love and life changes. All of a sudden, you have a family and dependents, and you are faced with a big financial responsibility. Becoming a parent is one of the most life-changing experience for anyone. The pressure of taking care of another human being will make you re-evaluate your priorities. All of a sudden, it’s not all about you; it’s about providing for and protecting your family. Life insurance is a financial safety net for new parents.
Life insurance protects the future
Before you had children, your savings account for was that all expenses paid ecological yoga/surf retreat in Costa Rica or hitchhiking across the country, but now that you have a kid, you start to compare your savings to the cost of college and retirement. You also start to look at your bachelor pad and realize that you’ll need to upgrade to a new home – preferably one with a backyard in a safe school district. You are no longer living for the moment; you have to make some serious decisions about protecting your family against anything that the future may bring.
Asking the toughest question of all
Protecting your family will require you and your partner (if you have one) to sit down and ask yourselves some tough questions. What would happen if one of you dies? This is an uncomfortable question, but if you want to protect your family, you have to be realistic. If you fail to provide for your family financially, how are they going to survive?
Get life insurance for each parent
On the other hand, you can’t just account for the person working outside of the home. A parent who stays home may not earn a paycheck, but should that parent die or become ill, you will have to start paying someone to step in and fill their shoes. We’re talking childcare, carpools, rides to and from friends and after-school activities, not to mention household chores. Every member of the family plays a role, and every role has monetary value. You may not realize now, but if one person all of a sudden ceases to contribute, the cost can be detrimental to the rest of the family.
Find the right life insurance to protect your family
AAI Central is an independent insurance agency located in Thornton, Colorado. We work with A-rated carriers to be able to find the right life insurance for new parents.
Protect your family today with life insurance!