Comments on: It isn’t just Old People who need to think about Life Insurance

By: Lulu

Lulu — Wed, 15 Apr 2009 15:35:00 +0000

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!

By: Danny

Danny — Wed, 15 Apr 2009 15:33:22 +0000

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.

By: Richard

Richard — Wed, 15 Apr 2009 15:20:45 +0000

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.

By: Chase

Chase — Wed, 15 Apr 2009 15:14:56 +0000

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.

By: Courtney

Courtney — Wed, 15 Apr 2009 15:10:14 +0000

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.

By: Michael

Michael — Wed, 15 Apr 2009 15:06:52 +0000

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.

By: Jenna

Jenna — Wed, 15 Apr 2009 15:04:21 +0000

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.