In a previous post where I wrote about Wealth Preservation: Strategies to Protect What We Have Built and Lessons Learned, I focused on implementing investment strategies to safeguard our portfolio while still allowing our assets to grow steadily. In this post, I discuss another way to protect our assets, which is having a life insurance policy. Both my husband and I each have our own policy. In the event that if one of us would to die, during the mourning period we would want the other person not have to worry about selling off some of our investments to pay for expenses. We hope the family members who survived [either one of] us would at least stay financially strong even when their emotions are not. Once we achieve our financial independence (FI) number we will continue to keep our life insurance policies. Technically, by definition, being FI means we would have all the financial resources we’d need to live comfortably for many years to come. However, we always prefer having an extra layer of protection and security, for ourselves and for our loved ones. And having a life insurance policy gives us peace of mind.
