Your twenties are a whirlwind. The first couple of years are spent in college, graduating from college, entering the real world and figuring out your first career choices. That being said you also probably aren’t too focused on saving for retirement, or thinking about providing for the family you may, or may not yet have. But as your twenties go on it’s very likely you’re on track to having a spouse, family and a mortgage in your thirties. While your twenties are a time of personal growth, your thirties is a time of growth mainly in your responsibilities and finances. The more you have in your life, the more you have to lose. Life insurance is the peace of mind you need to help reassure your loved ones that no matter what may happen in the future, you all have the protection you’ll need. It is a way to ensure that you can live comfortably, and at ease.
One of the best reasons I can think of to purchase insurance earlier in life, is the plain and simple fact that it is much more affordable. The younger you are when you purchase life insurance the more you get for your money. Many of the newer products and policies actually accumulate cash value, which you can use to help supplement your retirement. Making wise financial choices early in life can help keep those golden years truly golden. If you’re a parent you can also help kick start your children’s retirement funds with a life insurance policy, perhaps even one they can use to help their college funding as well. Give your children the financial gift and jumpstart they need to succeed later in life, (they will thank you for it later).
By the time you reach your thirties, you’ve more than likely realized that life is a lot more unexpected than you planned. While these unplanned surprises can fill our lives with some of the happiest of times, the opposite may also be true. We have all heard that tragic tale of someone leaving us too soon, or falling upon hard times. Don’t let that be your story. Life insurance is the perfect way to make sure that in the event of a tragedy, your spouse and children are taken care of. An insurance policy may leave your children a college fund, or pay off an existing mortgage. Life insurance can also be a way to provide protection for yourself and loved ones while you’re still alive in the event of a serious illness. No one should have to worry about finances in the most trying times of life.
Regardless of when you decide to buy, life insurance is always a wise financial decision. Buying earlier in life is just an added bonus. Having a permanent life insurance policy that can help you save for retirement, or simply provide peace of mind for loved ones is investment-savvy thinking for a younger generation.