The truth is I’m guilty of it too. While I’ve always believed life insurance is important I never really understood just how important it was to have life insurance until becoming a parent. But it IS necessary, even when you’re young. Plus, from a cost perspective the younger you are when you purchase life insurance (usually) the better of a price you can lock in on term coverage.
So in what instances would you need life insurance in your twenties? Let’s take a look.
If You are Married
What would happen to your spouse if you were gone forever? Would she be able to make it on her own? Cover the cost of living? What about the mortgage or her student loans?
When we think of our futures it’s hard to face the fact that we don’t really know what life will bring us. But I know if something was to happen to me I’d want my family to be able to, at the bare minimum, be financially stable.
When you’re young you can get a pretty decent price on life insurance and that can greatly benefit your family if something were to happen to you.
If You Have Kids
When you become a parent it is so hard to even think about leaving your kids behind. But the truth is we never know what’s going to happen. And for me, what’s even harder to imagine is leaving my child behind and not knowing that he’d have the financial resources he needs to have a roof over his head and a college education.
If you have children you’ve got one big reason to get coverage now!
What’s Stopping You?
If you are married or have kids what’s stopping you from getting coverage? I know in the past one of the huge barriers was that finding life insurance was a long and drawn out process, but times have changed.
You can now take advantage of technology and get a list of quotes in one place.
A site that I recently tried out was called Quotacy. You can fill in some basic information about yourself and will be given quotes based on your answers and the amount of coverage you have chosen. Then you can choose which offers bests suit you and apply for coverage. What I really liked about this site is, unlike some others that I’ve seen; they don’t ask you for your contact information to just get a quote. The last time I used another site, I got spammed for months – not with Quotacy.
Getting a quote takes less than five minutes. If you’re young and healthy I think you’ll be surprised by how much coverage you can get for $20 or less a month. Aren’t you at least a little curious how much life insurance would cost you?
Take it from me, I know just how frustrating it can be to get insurance quotes online and then get bombarded with email and phone offers. This site is NOT like that. You don’t have to put in any contact info to get a quote.
What’s more important to insure – your car, your house, or your life? While I’m definitely not suggesting that you cancel your car or home insurance I just think it’s time that we took notice of another area of our life – protecting the people we love the most!
Do you have life insurance? Why or why not?