Life is full of life-changing moments. Moving to a different city, starting a new job, becoming a first-time parent (or grandparent). But it’s also full of uncertainty — and how long we have left to enjoy life’s many milestones is one of those uncertainties.
That’s where life insurance comes in. The payout from a policy can help ease the financial burden on loved ones when the inevitable happens. And contrary to popular belief, life insurance is probably not as expensive as you think, especially if you’re young and healthy. For a 40-year-old in the market for a 20-year, $500,000 term life policy, the average cost of life insurance is just $26 a month, according to Covr Financial Technologies, a life insurance brokerage.
While having life insurance is important when anyone depends on you financially, that need becomes magnified during pivotal moments in life. If you experience any of these milestones, it may be time to …