Three Reasons to Create Your Food Insurance Policy


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Insurance is available for auto, life, health, and properties. However, insurance for food is not available. I suppose that the reason may be that it’s not considered as important as the other aforementioned insurance products, but no one can live without food despite the likelihood of those insurance policies being redeemed.

Since we live in a world of uncertainty and approval for government food subsidy programs is not always guaranteed, I recommend planning ahead by saving food that you can access when other safeguards have failed. Here are three reasons why creating your own food insurance policy will be equally beneficial during times of need.

Employment Loss

There have been massive job cuts and layoffs globally since 2008. While it seemed as if the economy was turning around, the end of 2015 revealed another story when Anglo American announced 85,000 job cuts. This company wasn’t the only company which announced job cuts during that time, but 2016 was definitely a shocker with the announcement of several major retail store closings.

Emergency Essentials/BePrepared

When job cuts are announced suddenly, most employees that are on the termination list are not prepared to handle the sudden income interruption. If you have savings set aside for a rainy day, purchasing emergency food can save you a lot of money that can be used to pay bills.

Emergency Safeguard

Catastrophic weather events can happen in an instant. These events can range from blizzards, ice storms, thunderstorms, tornadoes, to power outages. All of these situations can pose threats particularly with limiting access to food if you don’t have enough stored in your home.

Frozen food and perishable can quickly diminish due to lack of power. If you get trapped in your home because of snow or ice for a few days, your inability to access food can also be life-threatening. Emergency Essentials/BePrepared

Due to the uncertainty of when electricity will be restored or pathways will be cleared, you need a backup plan especially if you have young children or elderly parents. If you suffer from a health condition that requires consistent nutrition, you should not wait until disaster strikes.

Short and Long-Term Expiration Dates

Stocking up on fresh fruits and vegetables is always a good choice because you need to stay healthy. However, these items won’t last longer than a few days.

I recommend that you continue purchasing fresh food for daily use, but purchase long-term storage food to build up your food inventory.

There are several emergency preparedness companies that offer food that lasts 20-25 years. These foods are dehydrated and are packaged to preserve the freshness. A variety of meals are also offered to help you maintain a balanced diet.

Some meals are single packages which yield four servings. These packages are also available in food buckets that provide meals for 72-hours, one month, 90 days, or a year. If you are stocking up for yourself, the calculation for estimating how much you will need for six months or a few years is easy.

On the other hand, if you have a large family, it is a good idea to start preparing now so that you will be able to meet your family’s food consumption demand during lean times.

Emergency Essentials/BePrepared

Diversify Your Food Insurance Plan

When you take the same approach to saving food in the same manner as you do with your retirement savings plan or emergency savings fund, you should be able to maintain a steady food supply.

I suggest purchasing a variety of shelf life food that expires within two to four years such as canned, boxed, and pouch foods. Use these foods first and begin using the long-term food as your last resort.

This method will stretch your food supply and help you to plan your meals more efficiently. You can ensure that every meal has a vegetable, grain, protein, and fruit as opposed to just grabbing the first thing you see.

If you can’t afford to buy long-term food now, start with canned goods and when your income allows, purchase the food buckets. Aldi, Save-A-Lot, Walmart, Kroger, and other low-cost grocers offer good prices on canned goods.

If you set a goal to purchase 12 cans of the same food every time you get paid and go shopping, you’ll be able to stock up on a significant amount of food within 6 months to a year.

Overall, the more proactive you are, the more likely you can shield your household from food deficiency. Things may be good for you now and purchasing food may not be a problem. However, news about food scarcity in other parts of the world such as Venezuela is a good reason to take action now especially if you have children. The people have money, but it’s not worth anything, and they can’t access the resources they need.

If you have the mindset that everything will work out fine regardless of the economic red flags you see, you may be hungry for a long time if grocery stores close for various reasons.

Long-term food is an investment that can yield returns that sustain life and health.

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