Life Insurance – one of those things you know you should probably have, but haven’t got around to doing yet because of any number of reasons: you’re relatively young, you don’t have children, you pay off any debt on time, or you’re not a particularly risky person. There’s many reasons why life insurance may not seem pressing, but that comes from a uniformed viewpoint of why life insurance is better sooner rather than later.
To truly understand the importance of life insurance you have to first change your perception of life insurance’s benefits. Why is it important? You would probably say because it can help your spouse or your kids keep their standard of living, pay for funeral expenses, and in general pay for things that they will need now that the family has lost an entire income. For the most part, that’s a pretty good definition of life insurance. But, if you don’t have a spouse or children and you’re relatively young then it may seem pointless to get a policy. Why not wat until much later when death is a more perceivable inevitability? Because you’re not seeing life insurance as an income-based policy.
The earlier you get insurance the more time you are allowing yourself to pay into it. Remember the golden rule of insurance: risk equals money. The risker you are, the more insurance companies
charge for premiums. If you’re in your late 20’s or early 30’s, you have years of income ahead of you and endless life experiences ahead of you. Better jobs, starting a family, loss, love, and everything that comes with life until your inevitable passing. The earlier you start investing in an insurance policy, the more money your family will be left with. Wouldn’t it be comforting to know
that you bought a life insurance policy in your 20’s and then 50 years down the line, you left your wife with $1 million worth of life insurance to ease the financial burden caused by your passing? You can put a price on someone’s life, but that doesn’t mean it doesn’t come with a cost.
The great news about this is that a great life insurance policy won’t cost you as much as you might think. Typical plans cost less than $1000 a year and you have multiple options when it comes to the three types of life insurance policies (term, whole life, or universal). Everyone needs life insurance and everyone’s needs are different. Contact us so we can help you set up a plan that fits your life and your goals. The time is now and every year you wait, the less time you have to make a great future for you and your family!