Let’s get something straight; we all need life insurance. I know what you’re going to say, “I don’t need it, but my husband/wife does since I stay home with the kids,” and I’m about to rock your world. You do need it. Sure, you don’t get paid as a stay-at-home parent, but you do save money in other ways. For example, those four kids you’re home with don’t need to go to daycare while daddy/mommy is at work, do they? No, they don’t because they have a parent home with them. Now let me ask you this; what happens if something happens to you and working parent has to start paying either a nanny or a daycare bill for four kids? Life is about to get really expensive, is it not? So here’s the deal, you do need life insurance. And if you’re thinking that you can’t afford it, you actually can. We can tell you how to do that and not pay so much that you can’t survive.
First you need to know the difference between term and whole life insurance. Whole life insurance is more expensive, but it has a cash value and it grows as you pay for it. Term life insurance has no cash value and it’s good for the number of years you pay for it and then you have to renew your plan. But term life insurance is cheap. If you’re looking for cheap life insurance, you absolutely want to go with term. You can get a decent policy for under $20 per month depending on your age and overall health, and that will take care of your family should something ever happen to you and you are no longer around to do all it is that you do to keep your family running smoothly.
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