Q: Should We Buy Life Insurance While We are Still in Debt?
YES! Dave Ramsey does not include term life insurance in the baby step process since each household has different situations to address. His advice is that if either of your premature deaths would cause financial hardship for the surviving spouse or family members then you need to consider these plans regardless of where you are in the debt snowball. Marriage is equally as important to have life insurance as having a child. You have made a commitment to care for each other though the need may be less if you have not gotten too far into debt. As you get out of debt you actually are reducing the amount of insurance you need so your peak time for protection is when your family is less capable to maintain their lifestyle because of debt and a lack of savings. Zander Insurance only offers term life insurance plans since they are the most affordable pure protection products on the market and help families afford the right life insurance they really need. This is why Zander Insurance only offers level term life plans. You can compare rates online at Zander Insurance or call Zander Insurance at 800-356-4282 for personal assistance.