According to this article by Forbes, people in their twenties have a YOLO or “you only live once” approach to life. Organizing brunches or planning their next getaway, millennials are too engrossed in being ‘at the moment’ and unfazed about what the future may bring. That said, It’s a good thing to teach young people about life insurance as early as now to help secure their future. If you know anyone who needs help, here’s what they need to know.
Why You Need Life Insurance
The main problem of some millennials is their student loans. These loans, which may have been co-signed by their parents, may greatly affect their mom and dad if they suddenly die. This makes it hard for them to pay the remaining balance. However, if equipped with life insurance, their parents can pay the debt with ease.
Life can be even scarier if you get married and have kids. You’ll have people depending on you and trusting you. But what if you aren’t up to the task? Life insurance can help your would-be spouse and kids with finances if you ever suffer life-threatening accidents or even death.
Types of Insurance
Now that you have a good picture of your future, choosing what life insurance you want is the next step. Term and permanent life insurance are the two primary types of insurance. The first one, as the name implies, only covers you within a specific time period. This may be cheaper but a waste of money because you can’t use it after the time period.
You may want to opt for permanent life insurance which can protect you through your lifetime. Although pricey, the upside is it can be a savings account for you in which you can earn interest. This interest can be used to pay for your premiums.
Choosing Your Coverage
Having knowledge of your future and the type of insurance you want, you can now assess the coverage you need. Policies primarily range from $250,000 to a million. It all depends on how you’ll spend the money. Is it for paying off funeral costs? Or mortgage? College fund for your future kids? It all depends on what you need.
Getting life insurance can give you peace of mind while planning your next getaway. It’s all about being protected, safe, and not worrying about the future.
At Cornerstone Insurance Agency, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (770) 413-0807. Get your free quote today by CLICKING HERE.
The main problem of some millennials is their student loans. These loans, which may have been co-signed by their parents, may greatly affect their mom and dad if they suddenly die. This makes it hard for them to pay the remaining balance. However, if equipped with life insurance, their parents can pay the debt with ease.
Life can be even scarier if you get married and have kids. You’ll have people depending on you and trusting you. But what if you aren’t up to the task? Life insurance can help your would-be spouse and kids with finances if you ever suffer life-threatening accidents or even death.
Types of Insurance
Now that you have a good picture of your future, choosing what life insurance you want is the next step. Term and permanent life insurance are the two primary types of insurance. The first one, as the name implies, only covers you within a specific time period. This may be cheaper but a waste of money because you can’t use it after the time period.
You may want to opt for permanent life insurance which can protect you through your lifetime. Although pricey, the upside is it can be a savings account for you in which you can earn interest. This interest can be used to pay for your premiums.
Choosing Your Coverage
Having knowledge of your future and the type of insurance you want, you can now assess the coverage you need. Policies primarily range from $250,000 to a million. It all depends on how you’ll spend the money. Is it for paying off funeral costs? Or mortgage? College fund for your future kids? It all depends on what you need.
Getting life insurance can give you peace of mind while planning your next getaway. It’s all about being protected, safe, and not worrying about the future.
At Cornerstone Insurance Agency, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (770) 413-0807. Get your free quote today by CLICKING HERE.
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