While many people wait until they're middle-aged or older to purchase life insurance, you don't have to wait to buy a policy. In fact, life insurance becomes more expensive as you age, and many situations indicate you should invest in a plan sooner rather than later. Before contacting an insurance agent, learn more about what life insurance covers and when you should get it.

What Life Insurance Covers

Life insurance generally covers most causes of death, including natural death, accidental death, suicide, and homicide. Upon your passing, a life insurance policy gives money to your beneficiaries, which they can use for funeral costs as well as childcare, monthly bills, college tuition, mortgage payments, and other expenses.

Why Young Adults Should Invest

You Have Young Children

Life insurance can replace lost income to cover everyday expenses if you leave behind a spouse and children who depend on you financially. Also, life insurance can be used to pay off your outstanding debts.

You Support Your Parents

If you support your elderly parents, a life insurance policy could assure you that they'd continue to be cared for if you were to pass.

You Have a Business Partner

All partners in any business situation should take out life insurance policies. If one partner were to pass, the other would have the money to buy that share of the business from their heirs.

 

If you’re looking for a life insurance policy that fits your needs, contact Robert Rung Insurance in Lincoln, NE. Since 1973, this trusted, independent insurance agency has been providing personal insurance to residents in Lancaster County and the surrounding area. No matter your unique situation, they can find a plan that’s right for you. Call (402) 483-2279 to get a quote or visit their website to learn more about their insurance offerings.