You’re done with your studies and you’re finally working. You have money coming in and you have options for what you can do with your money. You can do anything that you want with your money because you work hard for it.
Now that you’re working after college and making real money, should you be thinking about life insurance and your options?
When is it too soon to be thinking about life insurance? Is there a right time to wait for life insurance?
The reality is that there are so many ways to spend your money in your 20s. Actually, let me rephrase that: there are so many FUN ways that you can spend your money. Why would you spend this money on more insurance and paperwork?
We’ll start off by looking at the benefits of life insurance and why one would even consider it at a young age:
- Cover your final expenses, so that your family doesn’t have to stress about this.
- Help your family pay for their living expenses in case that you’re not around.
- Replace your income if you ever lose it.
- Pay off your home mortgage so that your spouse or family doesn’t have to stress about the burden.
Why do most of us not bother with life insurance?
There are many reasons that we avoid life insurance, the main excuses that come to mind are:
- Seems too confusing.
- We get intimated by this process and just give up.
- We think it’s too expensive.
- We assume it’s only for old people.
Why have you not looked into life insurance yet?
Should you consider life insurance in your 20s?
Yes you absolutely should.
You’re still young and on top of the world. However, this doesn’t mean that you shouldn’t protect yourself and your family. You never know what can happen. I believe in hoping for the best, but preparing for the worst. This is what life insurance allows you to do.
Just please keep in mind that there are fees involved with this process and that you should consult an expert on the topic for additional information. I’m just sharing why you should think about life insurance.
Why would you not want to protect yourself?
What if you don’t want to spend a ton of money?
Let’s say that you’re not a fan of the idea of paying premiums on an insurance policy for ten years. You can purchase term life insurance. This is a short-term hedge against the uncertain and anything that could possibly happen to you. This is not permanent life insurance and you can always make changes in the future as you see fit. For more information, you can take a few minutes to check out term life insurance quotes.
That’s why you should look into life insurance while you’re still young and full of energy.