As we continue our life insurance blog series, we wanted to elaborate on why life insurance is an important component of financial and life planning, especially for people in the 20-35 age range. While it is traditionally difficult for younger people to plan ahead financially, especially when it comes to life insurance, there are several reasons why when you’re older you’ll appreciate the foresight!
Some of the reasons are:
Better health = cheaper premiums: When you are young, ideally your health is in better condition and therefore your premiums are more likely to be lower than once you are in your 40s and have some more complications like high blood pressure, extra weight, etc.
Emergency planning = while accidents and emergencies are hard to plan for, leaving the burden of student, and other loans, can be a heavy weight to carry for families. Therefore, preparing to cover at least some of those expenses can quite literally save your family.
Extra cushion = depending on what kind of life insurance you purchase, a policy can become your financial cushion later in life when you want to buy a home or you have a health or employment emergency. Additionally, depending on what kind of life insurance you purchase, this can also mean that later on in life you don’t need to worry about buying another policy but rather just increasing your coverage.
Think you’re ready to buy some life insurance and protect your future? Contact Kabco Benefits and we will find you the policy and value that best suits your needs!