Why It Might Be Time For Me to Buy Some Life Insurance – And Why It Might Be Time for You, Too

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I haven't had life insurance since I was a kid – technically, since my parents bought it for me. It was a small whole life policy, the kind a lot of people used to open for their children “just in case.” When I was 19, I cashed it out for about $3,000 to buy a used car. Not exactly a responsible financial decision, maybe, but at the time it felt like a no-brainer. $3,000 in my hand now or $25,000 later if I died? I'll take the car, thanks.

I haven't really thought much about life insurance since then. I've gone through my 20s and most of my 30s without giving it a second thought. After all, I didn't have kids. I didn't own property. I didn't have anyone depending on my income. I figured, what's the point?

But now, at 40, things have changed. I'm in a fairly committed relationship. We live together. We share bills. We have entwined responsibilities – but we're not married. Which means if something happens to me, he's not legally entitled to any of my assets. He's not on my retirement accounts. My life savings would still go to my brother, who I never bothered to remove as my beneficiary because… well, I never thought I needed to. And actually, I don't think I'd feel 100% about making that beneficiary switch without being married anyway.

And that's what got me thinking – maybe, finally, it's time to look at some insurance.

The What-Ifs Are Hard – but Important

It's not fun to imagine your own death. No one likes to think about what happens if the unthinkable actually happens. But for me, it wasn't so much about me dying – it was about what would happen to him if I did.

We split our rent and bills evenly. It would be a struggled for him to deal with everything on his own, while I'm sure he'd be wildly grieving. Ripping clothes. Rolling in ashes. Biblical proportions of grieving, I bet. Cause I'm pretty cool. If I suddenly weren't here to pay my half, he'd be in serious financial trouble. And because we're not married, he wouldn't automatically get access to my savings or investments. There's no safety net unless I put one in place.

That's where term life insurance comes in.

What Is Term Life Insurance?

In the simplest terms, term life insurance is a policy that pays out a set amount of money – called a death benefit – to someone you choose (your beneficiary) if you die during a certain period of time (the “term”). Terms are usually 10, 20, or 30 years. You pay a monthly premium to keep the policy active, and if you die during that time, the payout can help your loved ones manage everything from rent and mortgage to funeral costs and everyday living expenses.

It's not glamorous. It's not flashy. But it's a powerful tool to protect the people we love.

For someone like me – who doesn't have dependents or a spouse but does have a partner relying on my income – term life insurance is the easiest way to make sure I'm not leaving him in the lurch. He wouldn't be able to keep living here comfortably if I died tomorrow. But a term policy could fix that.

What About the Downsides?

It's fair to ask: why wouldn't someone get term life insurance?

Well, if no one depends on your income, you don't have significant debts, and your end-of-life expenses are covered, which has summed me up for a fair chunk of my life, you might not need it. Some people also prefer whole life insurance, which covers you for your entire life and builds up a cash value you can borrow from (recall the car mentioned in paragraph one – omg, I can tell I've been writing my thesis for too long. This is the first time I've naturally signposted in one of my blog posts. Sigh. A problem for a different blog post). But whole life insurance is also significantly more expensive.

Personally, I like the simplicity and affordability of term insurance. I'm not trying to create generational wealth or leave behind a legacy. I just want my partner to be able to pay rent, keep the lights on, and have the space to grieve without financial panic.

Final Thoughts: Love Means Planning for the Worst

When we talk about love, we usually focus on the joyful parts: growing together, building a home, sharing laughter and routines. But real love also means thinking about the hard stuff, like what happens if one of us is suddenly gone.

Life insurance is a way of saying, “Even if I'm not here, I've got you.” It's not romantic in the traditional sense, but it kind of is to me.

If you're in a similar place – sharing bills, sharing life, not married, no kids – it's easy to think you don't need insurance. But you might. Especially if you, like me, don't want to leave someone you love scrambling financially at the worst possible time.

So I finally did it. I bought a term life insurance policy. And honestly? It feels good to know that even in the absolute worst-case scenario, I've still got my partner's back.