It isn’t just Old People who need to think about Life Insurance
Posted on March 28, 2009
Filed Under Health | 7 Comments
There’s never a better time to get life insurance than when you’re young!
Hey you-twenty-something! Put down the game controller, turn off your iPod, and listen up. I don’t care if you just got out of college, technical school, or whatever. You need to be thinking about life insurance. Yeah, I know it’s boring stuff like your parents talked about, but it’s still important. You may think you’re immortal now because you’re good-looking, have the washboard abs and can party all night without any sleep, but just wait. Age catches up to everybody, and that’s why just about everybody needs some kind of insurance, whether it’s term insurance, whole life, or something else that’s designed to protect your assets and take care of your family after you’re gone. And while you may think that insurance is only something old people need to think about, you couldn’t be more wrong. In fact, the best time to get insurance is when you’re young. A young person can get much better rates on a term life insurance policy than an older person because they’re generally in better health and don’t have as many long-term health problems. So be smart, get ahead of the game and get yourself some good insurance now. You never know when something may happen, either an illness or an accident or something else unexpected, and you don’t want to leave your loved ones with nothing but good memories of you.
Related posts:
- Life Insurance
- Finding Cheap Life Insurance
- Florida Health Insurance and Mental Health Coverage
- Grandparents Being Covered
- Supplemental Health Insurance Florida Residents Can Use
Comments
7 Responses to “It isn’t just Old People who need to think about Life Insurance”
Leave a Reply
I think it’s even about more than thinking you’re immortal, because what if you get sick? Or injured? Or laid off, sick and injured? Life insurance will cover a lot of things, and you’re right that it’s best to think about it early when you can lock into low premiums.
Why would you bother with life insurance at such a young age though? Not because you’re immortal, but as a twentysomething I can say that I barely have a spare dollar, and no one is going to be left without a roof if I die, so right now it’s not really a feasible option for me.
I’ve been thinking about when it’s appropriate to get life insurance. I mean, which comes first, saving for retirement or life insurance? Or reducing debt? Which of these financial goals should be met first? My inclination is to say debt, but I’m not sure.
What if you don’t have loved ones, or at least dependents? My parents are set for life and decently well off, so they won’t have any problems but grief if I die, I have no kids and no wife, so is it worth it for me? I feel like it would be a little strange to give my parents a financial consolation prize if I died.
I think this is a great advisement for younger people; I waited way too long to get life insurance and it was insanely expensive. Most younger people don’t think about it because they don’t plan or put much stock in the future–their lives change daily, why should they stabilize that prematurely? But eventually, you’ll have to think about it, and it may be too expensive.
The short answer is yes, it is just old people who need to think about life insurance. The long answer is no, because as you’ve said, you’re going to be in a tough place if you leave it too long. It’s a tough decision because it’s such a big balance of so many different factors.
I’m giving this to my husband immediately. We keep arguing over this; we’re a young couple, and we just had a baby 2 months ago. If something were to happen to him now, we would be in a terrible situation, more so than if we had a few years worth of savings. Thank you for putting it so plainly!