Why you Should consider Life Insurance
Buying life insurance isn’t something that young adults typically think about. They’re more likely to budget for coffee runs and entertainment. But what most younger people don’t realize is that life insurance isn’t just for families. Even young adults may benefit from life insurance if their circumstances are similar to those listed below.
- Protecting family from debt: While no one wants to think about dying — particularly young, healthy adults — accidents and illness can happen at any time. It’s an important consideration so you don’t unintentionally saddle your loved ones with debt. A funeral alone could cost between $10,000 and $20,000. On top of that, some debts (mortgage, student loans, car loans etc.) may fall into the hands of cosigners if the primary signer dies. Life insurance benefits can help cover these costs.
- Caring for dependents: Your children, elderly parents and/or disabled siblings likely depend on your financial contributions for essential care. Any Millennials in a similar situation should consider buying life insurance to ensure the continued care of loved ones. The benefits can be used to fund long-term care, a college education or in any other capacity of care.
- Investment tool: Millennials who choose to buy life insurance are saving money simply by being proactive. Many people get lower rates at a younger age because they often pose less of a risk for insurance providers. Apart from locking in those savings early in life, some permanent life insurance policies also have a savings component. The accrued cash value grows over the years and you may even be able to borrow against it in times of need
Are you ready to learn more about life insurance? Your independent insurance agent is there to answer your questions and help you get started.
Get the coverage you need. Call JW Insurance Group at (407) 584-7283 for more information on Orlando life insurance.