I'm having a baby! Does my insurance need to change?
You’re having a baby – congratulations! We’re sure you have a million things on your list to plan, buy, and prep for, and we’re pretty sure insurance isn’t high on that list. But it should be. Your life is about to change, so making sure you have the right coverage for yourself and your new family should definitely be a priority. Everyone’s insurance needs are different too, so knowing if what you currently have is enough will vary as well.
In order to help make getting the right insurance easier, we’ve put together a few thoughts for consideration:
Switching to a family health plan covers you, your partner, and your baby
Give your entire family the security of health coverage by switching your individual plan to a family plan. It costs a little bit more, but it’s a long-term safety net that will set your mind as ease as you and your family grow. The health of your family is definitely something you should never have to worry about.
Consider life insurance if you don’t already have it
No one likes thinking about unexpected death, but it’s unfortunately a reality that everyone should prepare for just in case. You want to leave your family in a financially secure position, and this is the safest and most affordable way to do it. Best of all, it’s extremely easy to set up.
Invest in your family’s future
It's never too late to start building your savings. By tucking away a few dollars every month you can save for a rainy day, an emergency fund, or your child’s education. At BF&M for example, we offer an Education Savings Plan designed specifically to save for the future education of your child. On top of that, we also offer an Individual Saving Plan to help get you on your way.
Like we said, your insurance might not need to change depending on your specific situation, but with your life changing so much over the next year it’s definitely worth checking. And as always, if you’d like to speak to someone directly about any insurance needs you may have, we’d be happy to help.