Death Insurance

So, my hubby & I are scheduled for physicals & taking care of details so that we can get life insurance.  Which Dave Ramsey helpfully says should be called, “death insurance.”

 It’s nice to know that for a fairly small amount of cash monthly one can get a great cushion to fall back on in the unfortunate loss of a spouse or child, however, the idea of getting life insurance at all implies that you are at least open to the option of losing said spouse or child.  Not that it’s our choice right?

It got me thinking about the difference between the poverty mentality and the middle class mentality.  Dave & I once took a seminar together about these very different ways of thinking.  I grew up in poverty where my mother didn’t -nor did any one in my neighberhood- have even considered spending $13/mo. for a $450,000 life insurance plan so their kids wouldn’t have to cover their mortgage or heavy debt.  My 1st thought, is that you don’t have hope & you don’t think about planning ahead or making things better because in the end everything is screwed up anyway.  But that was then.

Now, I find myself squarely in the middle class, which is weird… it’s just so so so so weird.  I am often arguing with my internal poverty mindset and the wisdom of the rich whose consistent discipline and excellent money management have got them there.  Also, arguing with my penny pinching-middle-class-mindset-husband.  On a perfect day, we actually balance one another quite nicely.

Anyway, if Dave dies, of course it would be awesome to have a half million bucks to pay off our mortgage, set aside enough for 1-3 kids to go to college & not worry about funeral costs — but internally, I’d almost rather not think about it & nor do anything about the possibility that any of the Biskie’s could pass away.

Being a good Dave Ramsey, F.P.U. student, of course, we are getting the insurance!  And being my usual influencing self, of course I have to encourage you (your spouse & fam) to purchase cheap 20 year term life insurance as soon as possible. 

Pop Quiz: Have or Don’t Have?  I’m wondering how many of my blog readers are set up to take care of those we leave behind.

We just never know when today will be our last.