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Adulting 101: How To Protect Your Family’s Home With A Term Life Policy

October 10, 2019

This post is sponsored by COUNTRY Financial®. All opinions are mine.

We moved back to the Atlanta area from California nearly two years ago now. Can you believe it? We have been in the same house since came back. Although we are still renters, we have really seen the value of living somewhere long term and have really started to spend time talking about when and where to buy a home. I’ll be honest, as a person with commitment issues and wanderlust, I can’t believe that the phrase “putting down roots” is even coming into my vocabulary. After all, renting hasn’t been half bad for us. In fact, it’s what we’ve needed in our lives so far.

That said, we know that our renting days are temporary.

Thinking seriously about buying a home comes with a lot more than just considering school districts and mortgage rates. A mortgage essentially becomes a family’s highest financial priority. There is a long list of other things to consider as well, some of which I’d never even thought of until recently becoming more educated. This is another life event where it’s a good idea to talk about life insurance. You’ve heard me talk about life insurance before, but this is slightly more specific- as life insurance is not a one-size-fits-all product. In this case, there is huge value of having a term life policy in place to protect your home.

What do I mean by that?

Term life insurance is a good choice if you want the highest coverage for a lower price and only want the insurance for a specific period of time. It can be purchased in for a specific period of time and is often extremely affordable. I was actually super surprised at how affordable it really is. It’s a great option for people who need big coverage on a smaller budget. Another major benefit of term life insurance is that you can purchase a large amount of coverage often for significantly less than permanent life insurance, and your premiums typically stay the same for the length of the policy term.

What does this have to do with your home?

I know that none of us want to think about it, but in the event of a death, paying a mortgage could be a huge burden that could potentially devastate a family. The payout of a term life insurance policy to the beneficiary could be used to cover a variety of debts and costs, including the mortgage to save a home. This is huge. Visit COUNTRY Financial to learn more about the options available and decide what you would be comfortable with for your family.

Term Life Insurance: ICC17(RCT)
Life insurance policies issued by COUNTRY Life Insurance Company® and COUNTRY Investors Life Assurance Company®, Bloomington, Illinois.

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