Why Young People Should Have Life Insurance

For someone who is young and healthy, death is the last thing they want to think about. Statistically speaking, they have a lot of time and possibility ahead of them. While that’s true, life can be unpredictable.

That’s why life insurance is important, even for the young and healthy.

It Covers Your Debt

75% of college students have debt. If you have a cosigner on your loans, that debt will most likely transfer to them. Other debts can also fall onto family members, adding extra burden to their lives should you unexpectedly depart.

A life insurance policy can prevent this from happening, paying off your remaining debts after you go.

It Covers Funeral Expenses

Even if you don’t have debt, it costs money to take care of a person once they’ve passed. Life insurance can cover funeral expenses, casket cost, burial cost, estate settling, and more.

Replaces Lost Income

Do you have someone who is dependent on your wages? Chances are, should you die, that person (or people) will suddenly be in a very tough spot, financially. Life insurance can account for this, protecting and compensating them while they adjust.

It’s Simple

Unlike health insurance, life insurance is much more straightforward. It basically breaks down into two types:

Permanent and Term.

Term life insurance means it only lasts to a certain age, whereas permanent will cover the rest of your life. Chances are, as a young person, you’ll end up buying term, but there can be advantages to choosing permanent.

Either way, an insurance professional can easily explain what you’re signing up for and what it covers.

It’s Cheap

Young people have two big things going for them when it comes to life insurance. They’re at a low risk of dying, and they typically don’t own as much. Because of this, life insurance is very affordable. Act now, and you can find the perfect coverage for a great rate.

Yes, it’s not something anyone wants to think about, but neither are taxes, and we all pay those anyway.

Don’t roll the dice on your life. Make sure your family and loved ones are protected with life insurance. For all your insurance needs, whether it’s life insurance in Springfield, Oh to car insurance and more, Link-Hellmuth is here.