- Jason Hoffmann
How Life Insurance Benefits Young Adults
In your 20s and 30s, you have your whole future ahead of you.
With so much to look forward to, you'll want to make sure you're protecting your health as well as your financial future.
Life insurance might not be the first thing on your mind, but there are plenty of benefits of having a policy as a young adult.
4 Benefits of Life Insurance for Younger People
1. Lower Costs: Life insurance premiums are typically less expensive when you purchase a policy as a young, healthy person.
2. Building Cash Value: You can pick a life insurance policy with an investment piece and a payout in the event of your passing. The investment part of the policy can build cash value over your life, which you can use as you like.
3. Potential Discounts: Bundling a life insurance policy with your home and auto insurance policies may help you save money. Get in touch today to learn more.
4. Financial Protection: While you likely have a long and wonderful life ahead of you, people do unexpectedly become sick or get into accidents. If you pass unexpectedly, life insurance can ensure any debts you leave behind will be covered instead of being passed on to your loved ones.
Get to Know Your Life Insurance Options
Term Life Insurance: You can get coverage for a set period, usually 10, 15, 20 or 30 years. But if you outlive the policy term, you'll no longer be covered.
Whole Life Insurance: As the name suggests, whole life insurance covers you for the duration of your life. This type of policy also builds cash value that you may be able to draw from as you like.
Want to learn more about the benefits of life or health insurance? Reach out today.