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Why Life Insurance is a Must for New Parents

 

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Let’s get real for a moment. Being a parent gives you countless worries you never before imagined. Your mind spins and your imagination runs wild.

All the books and blogs in the world won’t prepare you for some of the unique challenges parenthood brings. Some are manageable. Sleep training, teething and baby’s first shots you can plan for. They can be tough but you get through them.

Other worries require careful longterm planning. You have your 401k set and maybe even a “529” setup for college. You are on the waitlist for the best daycares in town. But all too often, your family is left unprotected if the worst were to happen.

Protection is a Must

Experts recommend life insurance not only if your family relies on your income, but also if someone relies on your care. Whether you work or stay at home, a lot goes into caring for your family. If either parent were lost, there would be a huge financial strain to replace their income and care around the home.

Myths & Why Life Insurance Gets Ignored

  1. Life insurance is confusing and hard to get. When your parents got it, it took weeks of answering questions, blood tests and doctor visits.
  2. Life insurance is probably expensive and you have a million expenses already right?
  3. A 20 year policy? You can barely commit to an outfit for your little one, let alone paying something for 20 years.

Clearing Up the Confusion

Easy: Modern companies like Bestow, make life policies possible in less than five minutes. No blood tests or doctor visits. Answer a few questions online and you can be good to go in less time than it takes you to heat a bottle of milk.

Affordable: People overestimate the cost of life insurance by nearly 300%. Policies with Bestow start under $5 a month. That’s right. Less than you pay for Netflix.

Low-Commitment: Most policies allow you to cancel at any time. You aren’t actually signing up to pay for 20 years. You are signing up to pay one month at a time. There is even a “free look” period for the first 30 days. You can get a full refund if you decide the product isn’t right for you.

Bestow even offers a 2-year starter policy while you figure out your longterm needs.

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Peace of Mind

Not every worry is solvable but financial protection is. Parenting is about minimizing stress and counting your wins. Knowing that your family is protected financially will help you sleep like a baby.

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