“When we, as LGBTQ+ adults, make the decision to enter a relationship and start a family, it is not always with the support of our family.” It’s a poignant statement that will resonate with many people.
This insight came from MyLin and SK Stokes-KennedyThey are married and raising their blended family in Southern California. The couple appeared in the sixth season of “Black love“, where they talked about the challenges of growing their partnership and raising three children.
We are thrilled that they have agreed to work with us again this year to spread the message about the importance of life insurance.
life insurance? You’re probably wondering, “Where does this fit into all of this?” Well, it might be more important than most people think, so read on as we talk with MyLin and SK.
Life happens: When was the first time you heard about life insurance?
My Lin + SK: We got used to her after marriage but didn’t get to know her until we got pregnant with our first child together.
Luteinizing hormone: Why did each of you decide to buy life insurance?
My Lin + SK: We realized that we did not want the other or our children to suffer financially in the midst of grief if something happened to us.
Luteinizing hormone: What type of coverage do you each have and why?
My Lin + SK: We currently have term life insurance. While doing our research, we found that it was the least expensive option at this point for us.
Luteinizing hormone: Why should everyone have life insurance, especially LGBTQ+ adults?
My Lin + SK: When we, as LGBTQ+ adults, make the decision to enter a relationship and start a family, it is not always with the support of our family. Therefore, if something happens to us, there is a possibility that the remaining family will not overshadow our wishes. Wills can be contested, and things are ordained. With life insurance, you can be sure that your partner and children get what you want them to get.
Luteinizing hormone: Have you had conversations about life insurance with your family or friends?
My Lin + SK: Yes, we have had conversations with both. With our mothers being the most important because of the situations we would be left in if they did not have life insurance.
Luteinizing hormone: What did one of those conversations look like?
May Lin: So, I found out that my mother has a very small policy through her job that’s under $10,000, and it doesn’t cover her funeral costs. This led to us looking into getting a suitable policy for her that would cover her funeral costs (my mother knows this a lot of people, so it will be a big deal, we will need money), bills/debts, mortgage, and her car note. There’s so much that I don’t want it to happen to me and my brother or to have to set up a GoFundMe and beg people for this. I just want it to be taken care of already.
Luteinizing hormone: What does life insurance mean to you?
My Lin + SK: For us, it means security and peace of mind, knowing that if anything unfortunate happens to either (or both) of us, our children will be taken care of.
Luteinizing hormone: What do you wish more people knew about life insurance?
My Lin + SK: We hope people understand the seriousness of this matter. How much pain and stress can be dealing with financial struggles after losing a loved one, and we can do something about it now. We just need to spread knowledge and awareness that this is not a huge, expensive monthly bill.
Luteinizing hormone: What research findings from the 2024 Insurance Barometer Study (Life Happens and LIMRA) do you find most interesting?
My Lin + SK: I was interested to see that 62% of people who said they didn’t have life insurance also felt they needed it. The desire is there, they just need to know more. So, there is an opportunity to provide them with the knowledge they need to take the next step.
Luteinizing hormone: We agree – and that’s really our mission!
My Lin + SK: Then 22% of people who have it say they need more. I feel like we’re at 22%. We’ve had life insurance for about five years and pay $83 a month for all of our policies, which includes $150,000 policies for each of us as parents and $15,000 policies for each of our three children.
Our goal is to provide up to $500,000 of coverage for us parents because we want our children to have money for their future education, not just pay bills and debt. Therefore, we also know that there is room to grow and gain more knowledge. That’s why we love partnering with all of you. It motivates us to dig deeper and gain more knowledge, as well as to share it. Because we know that more people need it.
Get started
Don’t let uncertainty about how much or what type of life insurance to purchase keep you from obtaining coverage. To get started, you can do a quick calculation using our life insurance needs calculator to get a general idea of how much you might need. And if you want help choosing the right type of policy to fit your budget, you can speak with an insurance professional at no cost or obligation. If you don’t have someone to work with, you can use the Life Happens agent locator here.
