The other day, Alex and I had a different kind of date night…
When we were first dating, I had a Friday ritual of picking up cheese and fruit and bringing it over to Alex’s apartment. (I remember feeling so nervous heading to meet my new bespectacled boyfriend, with my little bag of cheese in tow!) We’d hang out on his sofa and chat about our weeks. Now and again, we like to revive the tradition.
On this particular night, while we snacked, we also talked about (wait for it) life insurance. Now that we have financial dependents, it’s important for us that our family has a financial safety net. We have term life insurance (and other plans in place) for that reason. We’ve also found it really helpful to have serious discussions at home, so we can feel safe and comfortable — instead of having the waiter interrupt you with the chicken special.
When it came to life insurance, Alex and I chatted about three things:
1. How much term life insurance to have (to, say, help pay the mortgage, childcare and day-to-day bills, or go toward a child’s education, etc.) While you may think buying life insurance is something you do once and never think about again (that’s what I thought at first!), it’s important to revisit your coverage needs regularly, since life changes.
2. What kind of decisions we’d want our partner to make with the payout of a policy. The proceeds of a life insurance policy can be used however your beneficiary chooses, but that can be overwhelming when they’re also coping with the loss of a loved one. Alex and I make financial decisions together, and discussing how this safety net would be used is no different.
3. What we’d want our legacies to be. You can indicate what portion of the proceeds you’d want to go to loved ones, as well as to a charity that means a lot to you. The latter would need to be done by having discussions with your beneficiary about wishes or through a trust.
Of course, our agency of choice is Haven Life, an innovative life insurance startup — backed and wholly owned by leading life insurer MassMutual. It was actually co-founded by a new dad. When he and his wife were expecting a baby, he found that he couldn’t get quotes, apply for, or purchase a life insurance policy online. Then the coverage took nearly two months to kick in. After that experience, he wanted to simplify the process for other people. Thus, Haven Life was born.
Haven Life has modernized the process of buying term life insurance. The online application process is super easy (truly!), and they offer affordable term life insurance rates. (A 20-year, $500,000 Haven Term policy for a healthy 35-year-old woman is $23.34 per month.)
If you’d like to see what other people have to say, Haven Life has received tons of positive customer reviews. And we’ve met with members of their team, and they’re warm and lovely people who want to help others.
Alex and I ended the evening feeling closer and more bonded. It felt good to talk about protecting our loved ones and our overall hopes for our family, should something happen to one of us. And we always pick a fun show to watch afterward: in this case, Goodfellas. (It really holds up.)
Thoughts? Do you have life insurance? What has your experience been? If you have any questions about term life insurance, Haven Life is standing by to answer them in the comments! And here are FAQs answered, too.
(Photos by Christine Han. This post is sponsored by Haven Life Insurance Agency, an online life insurance agency whose mission we believe in. All opinions are my own. Thank you for supporting the brands that support Cup of Jo.)
Haven Term is a Term Life Insurance Policy (DTC and ICC17DTC in certain states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and offered exclusively through Haven Life Insurance Agency, LLC. Policy and rider form numbers and features may vary by state and may not be available in all states. In NY, Haven Term is DTC-NY. In CA, Haven Term is DTC-CA. Our Agency license number in California is OK71922 and in Arkansas, 100139527.