26 Apr 2010 Planning to Start a Family? Don’t Forget About Life Insurance!

We all remember the childhood rhyme: “First comes love…then comes marriage….then comes baby in a baby carriage”.  Planning to start a family can be a very exciting time, but it can also be very stressful.  There are so many things to prepare for and buy; so much to do that it can be hard to keep everything straight during those 9 months of baby-bliss.

One thing to make sure you buy before your due date is life insurance.  Life insurance is usually one of those things you think of as an aside, but when you’re planning for your family, you want to make sure it’s at the top of your To Do list.

It’s no surprise that raising and caring for a child can get expensive.  But when you’re starting out, do you ever stop to think of how expensive it really is?

A new government study released by the USDA’s Center for Nutrition Policy and Promotion shows that the average cost to raise a child from birth through age 17 is a $221,000.  And once they pass 17, parents have to look forward to the college tuition bills that come next!  The numbers add up quick and can become a daunting figure to comprehend.  Most families find that there is always a way to make ends meet, but what happens if you’re no longer there to provide for your child?  Would your family or loved ones have the financial means to support raising your child if you passed away?

For most families, the answer is no, which is why all couples planning to start a family should consider life insurance.

Unfortunately, life insurance has become one of those “taboo” topics that most people don’t want to discuss.  Either because talking about mortality is uncomfortable, or due to the perceived cost of the insurance, or simply because they don’t understand the financial importance life insurance can bring.

As a parent or future parent, just stop and think: If you passed away, would your spouse or significant other be able to carry on without your income?  And what quality of life would that give your children?

If you’re concerned, term life insurance can be an affordable and convenient option for you to consider.  Premiums for younger, healthier individuals are very affordable, some starting less than $30 per month for $500,000 in coverage.  Not sure how much coverage you’ll need?  Check out our simple online life insurance calculator.  Once you’re ready, give us a call at (800) 941-3317 to get a free no-obligation quote from one of our Life Insurance specialists and get started on securing your child’s financial future.

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For more information about this topic, or to get answers about your current insurance situation, stop our office in Franklin, Massachusetts or give us a call at (800) 941-3317.

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