Millennials and young people are often more focused on the present rather than the future. That focus can lead to myths about life insurance and whether it’s necessary. In the event of the unexpected, an insurance policy protects the ones we leave behind from financial hardship, a benefit everyone can use. If you’re considering getting coverage but are still on the fence, here are some common misconceptions about life insurance and why young people should get covered.

4 Popular Life Insurance Myths Debunked

1. I’m Young & Healthy So I Don’t Need It

There’s a misconception that older people with health problems are the main benefactors of life insurance. The truth is that when you’re younger and healthier, securing a policy is much cheaper. You can lock in lower rates so that you’re prepared should an illness or other physical ailment occur later in your life.

2. Life Insurance is for Those With Kids

While you may not have kids, you could have a spouse or parent who relies on you financially. Should something happen to you, life insurance will help take care of them and any of your outstanding debts. Having coverage also eases the financial burden on your loved ones when it’s time to plan your funeral service.

3. My Employer Already Provides It

Many companies do offer life insurance, but the pay-out amount may not be enough to provide for your loved ones if you’re no longer around. Employer-provided life insurance is also not portable, so if you move companies, you can’t take that policy with you.

4. It’s Too Expensive

Monthly premiums are budget-friendly, especially if you secure a policy while you’re young. There are many options that provide significant coverage for less than what you might pay for two or three coffees each week.

For over 20 years, Lighthouse Agency Inc. in Fairfield, OH has helped people of all ages secure life insurance. Since 1996, this family-oriented agency has provided home, life, dental, and health insurance as well as Medicare supplements to cover you in every situation. Their friendly and experienced agents understand that no two clients are alike and offer personalized guidance to protect your loved ones. Request a free, no-obligation quote online, or call (513) 860-9100 to speak to a representative.