If you’re in your twenties, life insurance is probably the last thing on your mind. It’s justifiable, as most people in their third decade live a few more afterward and many at this age don’t have children or spouses to think about in case they do not. With this set of circumstances and likely your whole life ahead of you, you’re really only responsible to yourself, right?
The answer is that it may not be that simple. Although someone in their twenties does not necessarily have a partner or dependents to worry about, they do still have family: the one that the person spent somewhere around 20 years living with. The reality of life is that it is not guaranteed, and our time is always uncertain. A life insurance policy provides funds for your final expenses, which can easily surpass $10,000. Unless your family commonly has $10,000 lying around, and a life insurance policy is a responsible investment. You can click here to check out HBF & enquire about their life insurance today.
Another reason to consider a life insurance policy is to shield your family from your debts. Your cushy post-college job may be enough to finance your new car and pay down those student loans now, but should you somehow become prematurely and permanently unavailable to hold the position, someone will be responsible for addressing your debts, and the onus will likely fall upon the same people who spent at least 18 years financing you in life despite losing their ability to claim you as a dependent at age 25 or earlier. This is an unfair burden to place on your loved ones if you can at all avoid it.
Of course, the need to prepare for the unexpected rises greatly if you actually do have a family of your own. Age becomes irrelevant when you have responsibilities to uphold, and a life insurance policy could not only minimize the effect of a tragedy on those you care for, but provide financial assistance in the event that you become unable to work during your life.
Another important consideration regarding life insurance for a younger person is the relative affordability of the policy. Insurers give their premium rates to young, healthy people, as they see such individuals as unlikely to require a payout in the near future. Some providers even allow you to lock in your introductory rate for an extended period or even for the life of the policy, providing thousands in savings.
All things considered, it is practically never too early to start thinking about a life insurance policy. A good policy can protect the people you love in case of the unexpected and often do so at the lowest rates available. It’s a responsible thing to do at a fairly irresponsible age.