5 Reasons For Life Insurance At Age 25
Many 25 year olds feel that life insurance is not necessary, since they are so young. With that being said, here are five reasons why an individual should get term life insurance at age 25.
1. Life begins at age 25. Even though you become a legal adult at age 21, individuals at that age still may not have decided what they would like to do in life. By the time an individual hits age 25, many are considering their future as far as marriage, children or even purchasing their first home.
2. At age 25, you are at that age where life insurance coverage amounts are extremely affordable. When you obtain coverage at this age, the premium cost will remain level for the length of coverage. So imagine that you purchase a 30 year term policy; when you are age 50 you are still paying the same premium that you were when you were 25. How many things in life do not increase as you get older?
3. Your health, hopefully, is in good condition. As we get older, our health generally will decline and not improve. When you purchase your term coverage while in good health, the premiums are much less expensive. Even if during your coverage period your health should deteriorate, your premiums are based on when you where approved and will not increase.
4. At age 25, many individuals may have families and need that family protection in the event of something happening to them. This is the age when you can get the largest amount of coverage for that family protection and at the most affordable price. By doing this, you can ensure that your family can stay in the home, your spouse can have some financial security, and there will be some money set aside to pay for college expenses for any children you may have.
5. Affordability. This is the area that most individuals are concerned about when purchasing life insurance. When you take into consideration the items mentioned above, this is an age when you can begin your coverage for the largest amount and pay the least. Saving money is a huge concern for everyone. With this being said, purchasing term life insurance at age 25 makes quite a bit of sense.
About the author: Jim Marcinkewicz has been in the life insurance business for over 6 years. He is a big supporter of the American Red Cross and teaches both CPR and First-Aid classes. With two daughters in college, Jim knows the expense it takes to care for your family and enjoys helping others prepare their futures as well. You can reach Jim at 1-800-651-1953 or JMarcinkewicz@Pivot.com.