Yes! Term life insurance isn't included in the Baby Steps because it is an immediate need. Your family is most at risk of falling into financial hardship when you are in debt, which means this is the most important time in your life to have this added layer of protection.
Term life insurance is typically quite affordable, so there is no reason to delay taking this step for your family. We believe that you need term life insurance—regardless of where you are in your financial journey—if your death would put your family in financial hardship.
As you get older, your debt should decrease, and your savings should increase. That means the need for life insurance steadily decreases as well, until you no longer need it at all. We suggest a 10-, 15-, or 20-year term life insurance policy, which is the amount of time most people need to reach financial stability.
Since each situation is unique, we recommend reaching out to Zander to learn more. Here is the link to their website, and you can reach them at 800-356-4282 or info@zanderins.com.