When you are a new parent, there are many decisions that need to be made. What type of furniture do you need for the kid’s bedroom? What type of car seat do you need to buy? Who is going to watch your kid when you need to go out of town?

While these might seem like important decisions to be addressed at the moment, there is actually one other major decision that needs to be made, but most people overlook.

Would your family be okay financially if something unexpected happened to you? 

Most people don’t ask this question and even if they do, they don’t give it serious consideration.

When you are young and single, this might not be as necessary. However, when you are married and have kids that depend on your income, this is something that cannot be overlooked.

The best way to make sure that your family is taken care if you were to die is through having a life insurance policy. The purpose of life insurance is to help provide financial security in case something were to happen to you.

As a growing family, you have financial needs like a mortgage, paying off student loans, funding college accounts for the kids, etc. A life insurance policy can help ensure that those obligations are still met, their financial future is still protected, and give your family peace of mind.

Two of the main reasons people don’t consider life insurance

  1. They don’t think life insurance is affordable and therefore not a priority

The reality is that life insurance is not as expensive as most people might think. Did you know that a healthy 35-year-old male can get a 20-year, $500,000 term life insurance policy for as little as $22.25 per month? That is less than the cost of eating out one night per week with the family.

  1. They think buying life insurance will be a hassle

Most people don’t want to go through the hassle of buying life insurance. The traditional process takes several weeks to get a decision on coverage and involves a lot of paperwork, phone calls, and, of course, a medical exam. I remember when I got my life insurance policy, it was a challenge for me to get the medical exam scheduled, and I wasn’t looking forward to getting stuck with a.

The Solution

There is a life insurance startup (backed by MassMutual) called Haven Life that offers affordable term life insurance entirely online. Some applicants may not even need to take a medical exam to finalize coverage.

Their simple online application process provides an immediate decision on coverage, and, if approved, you can start coverage the same day.

No more waiting several weeks for a decision.

If a medical exam is needed to finalize your coverage, you will find out once you submit the application and will have 90 days to take it.

This is awesome because the process of getting life insurance used to be really time-consuming and they have figured out a way to make the process so streamlined that it can be accomplished in less than 20 minutes. And, there’s customer support available via chat, email, and phone if you have any questions along the way.

And, there’s customer support available via chat, email, and phone if you have any questions along the way.

Their Haven Term policy is issued by their parent company MassMutual, which has been around for over 160 years.They even let you compare the prices of other insurance companies so that you can see if this the best deal for you and your family.

Getting a free quote is simple and easy

To get a quote, they only ask for the following info:

  • Gender
  • Birthdate
  • Zip code
  • Health status
  • Do you smoke
  • Death benefit amount
  • Length of the term you want

It took me less than 60 seconds to enter all of this info myself, and I had an idea of how much coverage would cost.

Once you do that it will take you to an application page to answer some questions about your lifestyle and health history.

You should be able to get it all done in under 15 minutes. That is a short period of time to secure financial security for your family and peace of mind for the next twenty or thirty years.

Do you have life insurance to protect your family? If so, what did that process look like for you? Please share in the comments below.

 

Join Our Newsletter

Get more content like this delivered to your email.