- Best life insurance policies for young adults
- February 3, 2014
There are many benefits associated with getting a policy as a young adult. One main benefit to purchasing life insurance at an early age is lower cost. When a person is young and healthy, they are likely to get a less-expensive quote on their life insurance policy.
Even though life insurance isn’t something most young adults think about, it’s important for them to consider what the future may hold.
“Considering whether to purchase life insurance requires looking ahead to your goals in the next five to 10 years, not just evaluating your life in the present,” said certified financial planner, Tom Arconti, in the News-Times.
There are a couple of different types of life insurance available. The best choice depends on an individual’s lifestyle and long-term goals.
Permanent insurance is the most expensive because it covers people for their entire lives, according to the News-Times. Term-life insurance may be the best option because it can be inexpensive and provide more flexibility. The standard term life policy covers death providing family protection when you need it most. It is income replacement if something happens, especially to the stay at home mom.
Purchasing life insurance early on will, not only protects you from the unknown, but saves you money in the long run.
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