When’s the best time to purchase life insurance? The answer is NOW. If you find yourself thinking you’re too young to purchase life insurance, we urge you to stop and keep reading as we debunk other common life insurance myths with an assist from “Life Happens.”
It’s too expensive. In the ever-burgeoning budget of a young family, things like day care and car payments and possibly student loans eat up a good chunk of the money each month, and a lot of people think that life insurance is just outside those “necessities” when money’s tight. Life insurance is often not nearly as expensive as you might think, especially when you can get a good policy for less than the cost of a daily cup of coffee at the local café, and well, if money’s tight now, what if something happens to you? In other words, you cannot afford NOT to have life insurance.
I’m strong and healthy! You eat right, you stay active, and everyone admires how grounded and centered you are. You passed your last physical with flying colors! That’s GREAT! You’re neither immortal nor indestructible. It’s not even that something could happen to you—though it could—so much as when you’re at your strongest and healthiest, there’s no better time to get a policy to protect your loved ones. If you fall seriously ill or suffer significant injury later, it will make it tougher to get that kind of policy, if any at all. Simply put, purchase it now while you are healthy and it’s less expensive, so that it’s there for you and your family when cost/availability is out of reach in your mature years.
I don’t have kids. Kids are a big reason why some people get life insurance. That’s not the only litmus for needing protection. If there is anyone in your life who would suffer financially from your loss—your spouse or domestic partner, a sibling, even your parents—a life insurance policy goes a long way in making sure everyone’s still OK even if something happens to you. For peace of mind, purchasing life insurance now is key.
Check out more information from “Life Happens” during Life Insurance Awareness Month.