POLICY WIZARDS

Julie’s Story: Don’t Wait Until It’s Too Late

I want to share my real life story about life insurance with you. The more people I can help understand the benefits, the better, because I have lived it.

When my husband, Jim, and I got married, we briefly discussed life insurance because, well, that’s what you are supposed to do, right? But the conversation didn’t last long. We were young newlyweds, and we knew we didn’t have a lot of disposable income. So we dismissed it by convincing ourselves that each of us could probably afford this house on our own if something did happen, since Jim had owned it before I moved in and we made about the same amount of money. We thought, “Why ‘waste’ our money on life insurance? We are young: we have better things to think about.”

Two years later, along comes a baby. And again, the life insurance discussion. With another little life involved, we actually considered life insurance longer and harder this time. But we kept pushing the decision off a little longer. Then, when our daughter was 9 months old, Jim was offered a job in Madison that offered him more than double his salary. We sold our little “affordable” house and bought a newer, bigger one in Madison for our growing family (and income)! And finally the life insurance discussion was hard to ignore, and we decided we definitely needed coverage that would, at the very least, cover the house. It was on my to do list now. But as I had quit my job for the move, I was now looking for work in Madison and setting up our home, banking, and life in our new city.

I never quite made it to that item on my to do list. Three months after our move, Jim had an unexplainable, unexpected heart attack while running at the gym during his lunch hour. He died. Not only were my daughter and I left without a father and husband, we were left with the many financial burdens with no life insurance to help.

My point is… don’t wait. Don’t wait until the “right time” to buy life insurance. There is no right time, because once you know 100% how necessary it is, it’s too late.

And to the naysayer in the group that says, “But my work offers life insurance!” So did Jim’s. A little, at least. But it was complicated and took a few lawyers, notaries, phone calls, etc. It was a hassle a 31 year old new widow does not need.

I’m at a place in my life now where I can say things like “dead husband” and not completely break down in tears. But I had to go through more than I should have to get here. I want others to know how important life insurance is, because it’s not a matter of “if” you’ll need it, but when.

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