Many young people think they do not need life insurance due to their age, health, lifestyle, and lack of assets, but realistically these are all reasons to purchase a policy sooner than later. You can’t predict the future, but you can plan for it, and life coverage can secure a better future for your parents, spouse, or kids.

The Essentials of Life Insurance

Life insurance is financial protection in case of an ill-timed death. It can cover funeral expenses and pay off outstanding debt, which will give your family less stress. Additionally, it can replace your income and dedicate money to children’s college funds, which can put your partner or kids in stronger financial footing, allowing them to achieve their goals instead of making ends meet.

Why Millennials Need Coverage

Many people in this age group are still paying off their student loans while acquiring additional debt through mortgages and auto loans. While these steps are investments in your future, it can place a burden on your cosigners if something happens to you. Life insurance can pay off these debts to release others from your obligations. Additionally, the benefits can cover funeral expenses, which can be steep.

On top of financial security for your loved ones, a life policy is often affordable for young, healthy adults. Because you’re at a lower risk of collecting benefits, insurers will likely give you a lower rate for coverage. Whether you choose a term or whole-life policy, you can expect lower quotes than you would receive if you were 10 or 15 years older.

No matter how old you are, explore life insurance policies with Financial Strategies Group Inc. dba Arlene Lear Insurance in Bolivar, MO. Arlene and her team offer a wide variety of policies, including auto, business, life, RV, and homeowners insurance. Beyond the expansive options, this office creates personalized quotes based on your life and unique qualities. Their preferred insurer is Grinnell Mutual®, but the team will shop around until they find a quote that will suit your needs and fit into your budget. Visit their website to learn more about their life insurance policies, and call (417) 777-3000 to schedule a meeting.