Do you have life insurance? And, probably a better question is, “Do you have enough life insurance?”
If you have a wife, children, or aging parents that depend on your income, then you absolutely should….and you know it. And how much life insurance should you have? The rule of thumb is to have insurance that’s 10 times your annual income. If you earn $50,000 a year, then you should have a $500,000 life insurance policy.
Why so much? It’s so your family can continue to operate and function normally, even after you’re gone.
Think about it. You’ve got your kids in private school and your wife is a stay-at-home mom with a small side-business. If you were hit by a car tomorrow, would they be able to continue that life?
Without a doubt, your kids would have to transfer into the low-grade public school down the street, and your wife would have to find a job just to scrape by from month to month. This is NOT the life you would have envisioned for them.
That’s why life insurance is so important, and that’s why you need to stop putting it off. Thankfully, I’ve recently been able to partner with Ethos, and they can solve your need for life insurance. Just click the banner below to get your quick, free life insurance quote! No emails, no spam, they just give you a quote on the spot.
Ethos Life Insurance – Quick, Cheap, Easy
Ethos is a term life insurance company that offers a quick, easy sign-up process, and typically no medical exam is needed. This means that you could decide right now to change the future of your family, sign-up in the next half-hour, and be covered before the end of today! All for a very cheap rate (mine was just $13 a month for a $250,000 policy!).
Why Ethos Over Everyone Else?
Before I partnered with Ethos, I wanted to make sure they were legit, and not just a fly-by-night company that was going to be here and gone in 6 months – nothing about that would be good for you, my readers. So, I got on the phone and spoke with them, person-to-person, about their company, their financial backing, and about the process as a whole.
They passed with flying colors.
In short, I chose Ethos because they:
- Offer term insurance ONLY, which means they’ll never try to up-sell you to a crappy whole-life policy like so many other insurance companies do.
- Make the process enjoyable and easy. Nobody has fun filling out forms, so they make it super intuitive and clear-cut so you can get insured as quickly as possible
- Partner with insurance giants. Some of these insurance providers have been in business for 100 years. They’ll take care of you in your time of need.
- Have comparable rates. $13 a month would get me a $250,000 term life insurance policy. Not too shabby!
Why Term Instead of Whole Life?
I recommend term life insurance over whole life insurance 100% of the time. Many of you already know that.
Basically, because I believe that everyone’s goal should ultimately be to self-insure.
Let me explain.
Term life insurance is simple. You buy it at a very cheap rate, and they cover your life for the amount of years that you choose (typically 10 or 20 years). If you die during that time, they pay you the full value of the policy. Bingo-bango. Your family is covered, they go on living a normal financial life, and it didn’t cost you an arm and a leg. Simple.
Whole life insurance gets more complicated because they actually try to cover your entire life. And you know what? Everyone dies, so they’ve got to charge you way more for that!
Instead of having a $13/month policy (like I’ve got with term life insurance), I’d have to pay somewhere in the neighborhood of $130-$260 a month for whole life insurance. Yeah…WAY more. They’d try to dress it up a little and show me that some of my money will go into a savings/investment account and could grow into tens-of-thousands of dollars…but in reality, when I die, that savings account just vanishes as they only pay out the face value of the policy.
Do you need life insurance now?
Yeah, probably. You’ve got that wife, kids, and some parents that you financially support…
Will you need life insurance 30 years from now?
Well…probably not. Your kids will be grown and out of the house. Your investments will likely be worth about a million bucks. And your parents have probably passed on and no longer need your financial assistance. So why would anyone want to pay in loads of money each month for whole life insurance?
Exactly… they wouldn’t.
Term insurance is where it’s at. And this is why I’m ecstatic that this is the only type of insurance Ethos provides.
Cover yourself with term insurance today while your dependents need your income and while your net worth is slim, but do your best to self-insure as quickly as you can!
To check out Ethos and to get your term life insurance set up today (like you know you should!) just click on the banner below and they’ll quickly walk you through the process from there. What are you waiting for? Sign up with Ethos life insurance today.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.