Why is life insurance coverage sensible earlier than 30 (even for those who're certain you do not want it)

When you are in your twenties, you spend a lot of time planning your future.

At one point or another, you've probably thought about buying a house, marrying, having a baby – and even saving for retirement. So why not put a life insurance on your list?

We know. If you are young and healthy, life insurance seems to be a waste of time and money. You have to pay other bills anyway. And if you're single and you just do not have any children, what is it all about?

However, the truth is that you can easily save thousands of dollars if you have a cheap life insurance policy before the age of 30 – even if you do not have a spouse, child or home.

It's also super easy to get a policy. It takes five minutes to buy your options through a company called Policy GeniusHere you will find one million dollars for just $ 25 a month.

Benefits of life insurance (also for twenty-year-olds)

Let us return very quickly and talk about the benefits of life insurance.

Life insurance basically ensures that anyone you leave behind when you die can afford to pay for your funeral, unpaid bills and monthly living expenses.

If you're married and / or have children, it's probably pretty obvious who benefits from your life insurance – your spouse or the caregiver of your child. If you are single and have no children, think about who will pay your funeral expenses or who has signed loans with you (probably your parents).

In terms of the amount of coverage you need, personal finance experts usually suggest a guideline that is 10 to 15 times your annual salary. Policygenius can help you find out get a free quoteand you can change or update your policy at any time.

Why it can be wise to take out a life insurance policy in your twenties

We have noticed that many of us 20 year olds are thinking about our future, right? Even if you do not believe that you need a life insurance policy right now, you will probably – sometime in the next 20 to 30 years – find a partner, buy a house or have one or two children.

But the thing about life insurance is that the price gets bigger the older you get and the more health problems you inevitably have. So if you can secure a prize over the next few decades, you can save hundreds, if not thousands, of dollars.

Would you like to see how little life insurance can cost you as a healthy twenty-year-old per month? We suggest Get a free quote on Policygenius, It takes about two minutes to enter your basic information.

Once you've found a policy that meets your needs, you can apply online and complete the process with a quick call from a representative who can answer any questions.

Now you have to worry about one thing less in the future – and you can save a lot of money doing so.

Carson Kohler ([email protected]) is a staff member at The Penny Hoarder.

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