Why I decided to get life insurance - #72

Treyton DeVore
February 25, 2023

Welcome to The Loaf - making money & business more approachable for self-employed creatives & freelancers

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Money: Why I got life insurance as a single 27-year-old [article]

Life insurance is a hot topic in the world of personal finance & TikTok right now.

But I want to talk about the kind of life insurance that salesman don't shill incessantly..

→ Term life

I won't bore you with the details here, but there were 3 main reasons I chose to buy a $500,000 20-year policy this past week:

Flexibility

• If I want to stop paying for the policy, there are no fees or costs to doing so

• If I want to get more or less coverage, I can adjust my policy amount

Cost

• It cost $24.21/month for $500,000 worth of coverage

Family

• I'm in the process of building a few businesses and if I can't accomplish what I've set out to do because I die, my family is still taken care of

I think it makes sense for a lot of people to have term life insurance, so I wrote about the benefits, the costs, and why it made sense for me:

Read the post

🗓 this week

Friendly money & business reminders for self-employed creatives

✅ Think about what you're working towards

Why? Burnout is the result of creative output without direction

• If you don't know what you're working towards, everything you're doing can start to feel like a "waste" even if you know that's not true

• When you have a vision & creative direction, you can see progress and know that the work you're doing is making a positive impact in your life

Also read: How to recognize (and manage) burnout

..more crumbs

🐄 Economics, explained by two cows

💌 How to build an email list as a YouTuber

💰 10 commandments of selling a product or service

🎥 Watch: What artists can learn from Frank Ocean

✍🏼 Freelance Finds: If I have a job and freelance on the side, how is that taxed?

‍

Thanks for reading 🖤

Treyton DeVore

treytondevore.com​

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