Comments on: Why We’re Not Buying Life Insurance (Yet)

By: Paul Williams

Paul Williams — Tue, 30 Aug 2011 18:56:26 +0000

Thanks for commenting, Mark! You do bring up a good point. Getting life insurance early is certainly something you should keep in mind if there’s a family history of health problems at a young age or if you’re just worried about your ability to get coverage in the future. This is why it’s important to meet with an unbiased advisor. An article on the Internet can’t cover all possible scenarios and provide advice that based on your unique situation. Hope you passed the exam!

By: Mark

Mark — Tue, 30 Aug 2011 18:29:50 +0000

Hi Paul, I really like the info you have on your site. My background is in engineering but I am making a transition into financial planning (currently waiting somewhat anxiously for CFP(r) results results…) and I think our views on the planning process and industry are fairly aligned. I know this is an old posting but I have one comment I’d like to add. I am in a similar situation, married, no kids, no large debts, etc. but I chose to buy life insurance. For about $250/yr (each) we are both insured for 500k. The reason we did this is to guarantee that we will have insurance if/when we decide to have children or otherwise require it. We felt that paying the premiums removed the risk that one of us might be uninsurable due to an unforeseen health issue. This is definitely not the best path for everyone, but for people who are more conservative/risk-adverse or perhaps have a family history of health issues occurring at a young age it may be something to consider.

By: Cash Money Life Guest Post Requirements

Cash Money Life Guest Post Requirements — Sun, 15 Nov 2009 12:52:16 +0000

[...] Why We’re Not Buying Life Insurance (Yet). My wife and I skipped life insurance when we were newlyweds. We were both professionals and had no real need for it. But our situation changed when we had our first child. [...]

By: Paul Williams

Paul Williams — Tue, 10 Nov 2009 15:22:13 +0000

Thanks for taking the time to comment, Patrick! It’s easy to get insurance later when you actually need it. I just don’t see the point in paying for it when you don’t need it. We’ll definitely be getting it as soon as we know kids are on the way though (not after we have them).

By: Patrick

Patrick — Tue, 10 Nov 2009 15:20:02 +0000

My wife and I followed a similar course of action when we were married – we were both professionals and had no outstanding debts other than our mortgage, which the surviving spouse would have been able to manage on his/her salary. Our situation is different now that we have a newborn.

By: Festival Of Frugality #203 – American Flag Edition : Domestic Cents

Festival Of Frugality #203 – American Flag Edition : Domestic Cents — Tue, 10 Nov 2009 12:09:14 +0000

[...] Williams from Provident Planning wrote Why We’re Not Buying Life Insurance (Yet). I admit, I was skeptical when I read the title. However, his reasoning is pretty sound – [...]