I just want to encourage each of you to seriously consider obtaining Life Insurance. Do not wait until your age dictates a ridiculous premium, or until your are sick. Life insurance has so many living benefits, and is not just limited to receiving a check when someone dies.
Having life insurance at work is not enough. Generally the amount is limited...and if the job disappears, so do your benefits.
You can get a critical illness rider on your policy. This means if you are diagnosed with one of multiple stated diseases, that your policy will write you a check for whatever amount you have chosen. This gives you the freedom to heal without worrying about medical bills or paying the mortgage.
If you are diagnosed with a terminal illness, a check can be written to you for half of the face amount of the policy. This means you can go live out your days in Jamaica or doing whatever you want to do.
Life insurance counts as an asset on your balance sheet. If you are trying to get a loan, banks LOVE to see life insurance.
If you get a whole life policy, it gains in cash value...you can borrow against it at a low rate of interest if you want...or if you decide that you don't or can't pay the premiums, the cash value can be used to do so.
PLEASE look into getting life insurance, and the younger you are the better. The kids each have a small whole life policy, and by the time they are of a retirement age, it will be a really good investment for them to cash in on.
If you have questions, please know that you can ask me, and I will help steer you in the right direction. Also remember, I am not putting this out there to sell you anything, because unless you are standing on the ground in my State, I cannot write the policy. This is such an urgent financial decision that can make or break a family.
What would your family do if you were no longer present? Are they taken care of so that they do not have to worry about losing the house, and the life that you have taken such care to build?