June 28th is Insurance Awareness Day, a day to make sure we have our bases covered in the great Game of Life. Though it may be painful to part with our monthly premiums, insurance offers us — and our families — peace of mind and protection. With health expenses, college tuition, and cost of living all skyrocketing, where would our families be if we were injured or, worse, passed away? For these very reasons, it is imperative that each one of us, single or attached, consider at least some of the basic forms of insurance.
A couple of years ago I started listening to the Total Money Makeover guru, Dave Ramsey. Mr. Ramsey is a proponent of living a debt-free, responsible life, and has written many books, hosts a radio show, and developed Financial Peace University to help others realize his dream. I don’t follow his plan 100% to the tee, but Chris and I have paid off our fair share of “stupid tax” by putting some of his practices to use. When I listen to the radio show there is one point in particular that he constantly stresses that makes me feel ashamed: the need to obtain life insurance. I have all of the other important insurances covered — auto, homeowner, disability, heath — but I only have a minimal amount of life insurance coverage provided through my employer. I have no good excuse for not having the proper coverage (Dave Ramsey estimates you should have about ten times your annual income), so I guess I really have my own laziness to blame (hence the shame). In my defense, I did try to get a policy through USAA several years ago, but a snafu with the paperwork listed me as a smoker (definitely not!) and I refused to pay the inflated rate. Unfortunately, once USAA had mis-entered my data there was no way to undo it and I would have had to wait another two years for the regular rate. Two years turned into six and here I am, still under-insured. This was my one bad experience with USAA.
So, how better to celebrate Insurance Awareness Day than to fill the gap in our coverage? Chris and I both logged onto the Zander Insurance Group website to get term life insurance quotes and submitted a request to one of the suggested providers we were matched up with. We should be getting a call sometime in the next couple of days to schedule our in-home physical exam and then well be on our way to becoming real adults! In all seriousness though, I’m really glad we decided to celebrate this unusual “unofficial” — with the possibility of an expanding family on the horizon, we both want to make sure we protect our family and do everything we can to provide for them. I’m relieved now that this ball is finally rolling!
Say “cheese!” Tomorrow is Camera Day!