About two and a half years ago, a couple months after Susan and I married, we met with a friend who had recently got into insurance sales with New York Life. We had death insurance on me through my company, Reynolds Web Solutions, but we didn’t have any insurance on Susan, so we decided on a term life option for her, similar to what I had.
Our friend has since gone on to bigger and better things, so our policy went into the hands of another insurance representative.
She came over a couple months ago to meet us and see if we wanted to switch to whole life insurance. We thought about it. Contrary to what some will say, it is not a bad way to go. It is somewhat of a forced savings plan if no savings are going into the bank, but since we plan on saving ourselves, hopefully making more in interest and through our investments, we decided to forgo the whole life option for now. We will keep our term life policies for now. That is not a bad plan either.
Now to our daughter. We are planning for her future, so we have to get a small policy for her. When she gets to be an adult, we can then transfer that over to her if she wants to continue the policy. And if, God forbid, something happens to Susannah, we will have the money for burial expenses. It is never fun to think about it, but life happens.
We know all things are in God’s hands, and we trust Him completely, but through scripture, it is clear that we should prepare for a rainy day. We just pray that the rain comes only in the form of mist rather than in torrents.