People tend to dismiss thoughts about death and dying, especially if they’re young and healthy. But talking to a life insurance agent makes sense to prepare for the inevitable, especially when you have dependents. It’s certainly not intuitive, and not something you think about until you get married, or buy your first home.
It’s Cheaper When You’re Young
Getting life insurance in your 40s will inevitably cost you quite an amount on a monthly basis. Consider the difference of getting a term for life insurance policy as a healthy non-smoking young professional. You’ll end up paying for as little as thirty dollars a month, and you can save quite a lot of money down the road. You might even want to upgrade your package to include a professional insurance policy.
Take Financial Burden off Dependents
A lot of parents go into debt to help their kids through school or to buy a new home. If you owe a significant amount of money, it could leave you with a big financial burden. A life insurance policy would pay for this in case of untimely death, while also covering the costs of your funeral and other expenses. This is also a responsible way to leave a financial legacy. If something were to happen, you can rest assured that your significant others will be comforted with some inheritance.
If your parents aren’t able to leave you any money, you can ask them instead to arrange for a life insurance policy. Let them name you as their beneficiary then proceed to paying the premiums yourself.
While death is the last thing on a young professional’s mind, the number of people making a case for life insurance in their twenties is very low. These days, a three hundred-dollar policy can be acquired for as little as one hundred fifty dollars a year. This is quite a tidy sum. And while you may think you’re not going to die soon, a responsible individual does recognize the reality of death. Putting money on a life insurance policy actually makes you more committed to living a worthwhile life.