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Life Insurance Isn't Just for Seniors

No one likes to think about what will happen when they die.  As a result, life insurance isn't the usual topic of conversation.  Most believe that life insurance is something you don’t have to think about until your senior years.   However, nothing could be further from the truth. Life is uncertain.  The unexpected could happen at any age.  It is therefore important to be prepared at all times.

The following are six reasons why life insurance isn't just for old people.


1. Boost Your Funding for Different Stages of Your Life

There are two kinds of life insurance, those that expire known as term policies, and those that are permanent and generate cash value.  If you structure a permanent life insurance policy properly, you can actually use the cash value during your life to help fund activities at different stages of your life such as deposit for the purchase of a house or provide income at retirement.


2. You Got Married

Immediately after you say "I do" is usually the time to start thinking about life insurance. What if one spouse works, while the other spouse stays home? In this day and age a family often depends on the income of both. Whatever the situation, life insurance can provide a very valuable asset if something was to happen either partner.  It is important to have enough Life insurance to cover all your expenses …and a little extra!


3. You're Having a Baby

If getting married didn’t get you to act, your little bundle of joy should surely spur the need to have life insurance in place. Children bring along a lot of expenses including day care, clothes, food, and not to mention college. Life insurance benefits can become an important life preserver and ensure your child's well-being.


4. You are in Business

If you are in business and have a business partner, then life insurance should be your next step. You share expenses, knowledge, and more. What if something happens to one business partner? What will happen to their family? Their business interest? For this reason business owners usually opt for life insurance on each other.


5. Accidents happen

Although you may be young and healthy, life is unpredictable and accidents do happen.  Premature death can occur.  What will happen to your dependants if this was the situation they faced now?  How would they manage without you? Life insurance can assist in providing financial assistance if you are no longer there to provide for them.


6. You are Young and Healthy

One of the greatest advantages of buying life insurance at an early age is the low premiums.  Indeed the proceeds from life insurance are not paid until you die, however the younger and healthier you are the lower the premium.


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