Since last Father's Day, it feels like the whole world is different. Only one thing hasn't changed: Dads still work hard, and deserve a little appreciation on their big day. Unfortunately, many of the tried-and-true options – tickets to some show, say, or an outing with friends – aren't really doable in the summertime of COVID-19. As for old standbys like a necktie, well, we don't know you, but we're guessing you can be a little more creative than that.
In fact, here's a concept that's really out of the box: A term life insurance policy. (No seriously, it doesn't are available in a box.) Purchasing a term life policy and naming the daddy of your child(ren) because the beneficiary is a gift that shows just how much you care. Here's how.
It only requires a minute
Let's talk about the dads in our lives. (Which, since we've said hello, sounds like an amazing soap opera.) Some dads desire to be celebrated using their friends and family. Some dads wish to spend Father's Day solely together with their very own thoughts. But for both kinds of dads (and all sorts of those who work in between), there is a challenge. We can not gather in large groups at this time. With most people in quarantine, it's not a perfect time for you to hide out within the den. (Those kids who excel at crashing Zoom calls are equally proficient at crashing pop's here we are at sitting and thinking.)
But one thing unites dads around the globe: They hate putting things off and encourage themselves to feel the same way. Well, good news: You can make an application for term life insurance on your own online. If you're approved, your coverage can start instantly. Name the guy in your lifetime as the beneficiary, and you are done. Which leaves you with lots of time to plan next year's epic Father's Day celebration and/or day of solitude.
Ok, there are several more things that unite dads around the globe, and something of those things is an appreciation for durability. Think of those dirty shoes he's had since college, or the old tool set he refuses to spend. And also the problem with most gifts is, they do not last. Neckties go in and out of favor. Experiential gifts, obviously, come to an end. Life insurance? Well, there's a gift which will stick around for decades.
Plus, getting a life insurance policy is personal in a way that a monogrammed spatula could never be. It's an intimate promise between you and your partner and your child (or children). It helps ensure that there is a financial back-up should something happen for you.
The fact of the matter is, what you purchase life insurance is only going to increase while you age. So that as we all know, dads love a great bargain, and can appreciate that you got one on life insurance. (See? Another thing that unites all fathers.) This is the time. Should you delay, you'll likely pay better pay for coverage, particularly if something changes with your health. Besides, you are merely about you, or else you as well as your partner. It comes down to your family-whether you are new to parenthood or an old pro-and there are certain steps you can take how to take care of your family far into the future.
You can help offer him and your children through getting a 10-, 20- or even 30-year term that will cover them throughout the years it's needed most. You could get a $1 million term life policy, or perhaps a little less, or a a bit more. (Who doesn't appreciate flexibility?) By purchasing life insurance, you'll be helping look after their expenses (tax-free) if you were to die, including the price of a funeral, your children's college expenses, the mortgage and much more. The proverbial gift that keeps on giving? Life insurance is it.
If you think life insurance is pricey, think again. A proper 35-year-old woman can purchase a 20-year, $500,000 term life insurance insurance policy for about $20 monthly; a healthy 35-year old man pays a few bucks more than that.
The ongoing global pandemic has been, among other things, a reminder that life moves pretty fast, and things can change quickly. If you wait a few years, you'll definitely be older (that's how time works), and you might allow us health problems that will raise your premiums. Our recommendation? Look after this now, while you're young and healthy.
It goes the additional mile
Some life policies come with something called a rider that provides you with additional advantages to your policy. At Haven Life, the Haven Life Plus rider includes a no-cost virtual gym membership (a year's subscription towards the fitness app Aaptiv) free trust and can services (via Trust & Will), and a good night's sleep – that last one originates from free use of the jetlag-fighting Timeshifter app,
It's all those things and thus much more
Let's be real: In a time when so much is uncertain, you may not want to spend money on a gift he may nothing like or use? Or would you like to do right by him and your family, with a gift that is pretty much the definition of generosity? That is what we thought.