Life Insurance: A Good Decision Inspired By Bad News

We know that bad things happen.

We see them happening when we turn on the 5 o’clock news and find out about another devastating hurricane or senseless shooting.

We see them happening every time an obituary for an old college friend or a GoFundMe link for a bereaved family pops up amidst the photos of cute kids and date night selfies on our social media feeds.

We see them happening on the side of the highway as we drive to pick our children up from school, and we grip the wheel a little tighter as we pass by blue lights and tangled metal.

We see them happening to our own friends, and our own family.

Don’t go blind looking on the bright side.

For all the knowing, and all the seeing, we still tell ourselves, sometimes silently and subconsciously so as not to tempt fate, that the bad things won’t happen to us. This isn’t so much arrogance or ignorance as it is a necessary defense mechanism. If we analyzed all the potentially tragic outcomes of everything we did, we’d probably never actually do anything. The danger in not acknowledging those frightening things that are out of our control, though, is that we don’t always prepare for them.

That shrugging off of the odds is why so many of us don’t have enough life insurance. We say it’s because it’s too expensive, but in most cases, it’s much more affordable than we think. Your home security system probably costs more per month than many life insurance policies, and life insurance does a lot more to protect your family than make a loud noise and alert the police.

Numbers to know before you say “no.”

About 30% of American households have no life insurance at all. This means almost 40 million people have no plan in place to safeguard their families’ financial future if the worst should happen.

What’s almost as scary, though, is that of the 70% of the population that does carry life insurance, 48% aren’t covered adequately.

These stats might sound like nothing but more static if you’ve gotten good at convincing yourself that life insurance isn’t that important, but here’s one that should resonate loud and clear:

Last year in the U.S., 1,179,370 children under the age of 18 had to rely on modest social security benefits due to the fact that they lost a parent. So, not only did these children have to deal with the loss of their mother, father, or both, but also financial instability from which they may never recover.

According to the American Psychological Association, the effects of childhood poverty on everything from education to mental health can be lasting and devastating. We all want the brightest possible future for our kids, and life insurance can help make sure the lightbulbs keep getting replaced if you’re not around to do it yourself.

Keep the glass half full…of facts.

Nobody wants to think about being the one that bad things happen to, but knowing your family is protected means thinking about it less, not more. Somewhere in the balance between convenient optimism and paralyzing fear is productive realism…a space where we can efficiently plan for the worst while eternally hoping for the best.

At Our Life Covered, our goal is to make this space more accessible for:

• Busy moms who know they need life insurance but don’t have the bandwidth to add another complicated thing to their to-do lists;
• Women so focused on their careers that they don’t have time to think about protecting what they’ve worked so hard to achieve;
• Women who are ready to learn more about the best life insurance for young adults;
• YOU!

So when you’re ready, we’re here to help you find a life insurance policy that fits your household budget, helps to better protect your loved ones from poverty, and doesn’t take up too much of your time. Right now, right where you are, any time you need us.

Originally published on Our Life Covered Blog — December 5, 2017