Why We Chose to Get Life Insurance As New Parents

As a new parent, we get told a million and one things to get done after having the baby. From setting up the nursery, getting a passport, to looking at daycare options. But what we forget or put off is getting term life insurance.

I never think about what if I wasn’t here for Rowan, but having life insurance so she’s set up for the future in case both Curtis and I weren’t is important to us. I made a list after she was born:

•   Get a passport (was optimistic we would travel sooner than we have, thanks pandemic)
•   Request her birth certificate
•   Start an RESP
•   Make a will
•   Look into term life insurance

Guess which hasn’t been completed until now? Yup, you’re right, life insurance. I used to think it involved multiple medical appointments, hours on the phone with underwriters, and tons of paperwork. But I’ve recently discovered PolicyMe, and that I can get a quote for term life insurance in MINUTES! You heard me, minutes! Not weeks or months, just a mere handful of seconds. They are Canada’s fully digital life insurance company, built to help families more easily and affordably protect those they love.

And best part, it’s affordable. I was hesitant at first because like most of us, especially new parents, life insurance sounds expensive and not part of our household budget. But with PolicyMe, they offer affordable coverage and make sure you get the right coverage. A recent study showed that many people have the wrong kind of coverage, such as mortgage life insurance or insurance purchased for their children, instead of themselves.

OK quick facts, because I found these interesting! I love a good survey result

• 77% of Canadian parents with dependents have life insurance.
• 70% of Canadian parents with children under 18 have life insurance through their work benefits (Group Life Insurance). When parents only have group life insurance, it is often not enough to cover their family.
• Of those parents with life insurance as a work benefit, 44% rely on it solely, which is typically insufficient to protect their family.
• Only 33% of parents with children under 18 have term life insurance, the life insurance product that most parents need.
• 50% of parents who don’t have life insurance say they haven’t bought it because it is too expensive.

Now that Curtis and I both have term life insurance, we have peace of mind knowing Rowan is covered and I didn’t have my time consumed by the traditional underwriting. I was able to keep making memories with Rowan and my family this summer. I was actually able to do the easy online quote while she napped! Amazing, right?

Visit policyme.com and discover your life insurance quote today. Let me know in the comments if you get it! I’d love to know!

This post was sponsored by PolicyMe but all opinions are of my own.