Make Your Own Luck

You are Never too Young for Life Insurance

As you enter into your twenties, typically you are focused on finally having your independence. You might be excited that you found the job you really wanted which enables you to purchase the car that you couldn’t wait to afford, or be able to move into your very first apartment. However, along with those achievements comes additional living expenses you will now be responsible for. The thought of purchasing life insurance may never cross your mind, but life happens and you want to be prepared for the unexpected.

Life insurance can be very beneficial to you, no matter where you are in life – and here are some reasons why:

It’s affordable

The cost of insurance is based on age and wellbeing. The younger you are and the healthier you are, the less expensive it is to purchase. You can apply for life insurance at a lower cost now, enabling you to budget the cost of the premium with your other expenses.

You care about those around you

You may have obligations such as student loans, credit card debt or financing for a new car – and perhaps you are even considering purchasing your first home; and you may have asked a parent or loved one to co-sign on these big purchases. Life Insurance will provide the funding to pay off those loans if something were to happen to you. Having the policy in place will provide you with the assurance that your debt will be taken care of and will alleviate the financial burden on the co-signee who would be responsible for the balance left on those loans.

It can help you prepare for the future

While it may not seem important to have life insurance now, your future awaits and down the road you may decide to get married or start a family. Purchasing life insurance today can help you feel more secure about the coming times, and can provide you with the assurance that your loved ones will always be taken care of.

Unexpected savings

Life insurance policies can offer more than just a death benefit for your heirs. Certain policies provide a savings vehicle linked to the insurance contract known as Cash Value – it is commonly referred to as the “Living Benefits” associated with life insurance. When you pay your life insurance premiums, a portion of that money is allocated into that account which in turn accumulates over time. Consider the cash value as an unexpected savings that can be withdrawn from the policy for life events such as a wedding, home purchases and/or a child’s education. The cash value can also be used to fund future premiums if you were unable to.

Life is not about luck, it's about the choices you make