If you’re like many Millennials, the last aspect on your mind is signing up for a life insurance policy. There are actually a lot of well-founded arguments for signing up for a policy while you’re young, especially if you’re anticipating getting married or having children in the next few years. 

Why Young Adults Should Sign Up for Life Insurance ASAP

1. Your Age & Health Affect Costs

When you purchase life insurance when you’re young and healthy, you will be privy to the best rates possible. This may not be the case if you wait until your 40s or 50s, especially if you develop a chronic health condition. The longer you wait, the more expensive your premiums will be.

2. Life Insurance Can Help While You’re Still Alive

Whole life policies have a cash value component that can be borrowed against while you’re still alive. This money can be used to help you buy a home, start a business, or even put your kids through college. 

3. Funerals Are Often Expensive

Should the unthinkable happen, your family will be left to cover your funeral and burial expenses. Funerals are more expensive than ever, with even basic services costing thousands of dollars. With life insurance, your family can focus on healing instead of wondering where they will get the money for your service. 

4. Most Couples Survive on Dual Incomes 

Even if you and your spouse are not planning on having children, how will your partner fare financially without you? Death benefits replace lost income, which can be used to cover items, like your mortgage, utilities, and any other expenses that may arise.

Do you have questions about life insurance in Louisville, KY? If so, Hamilton-Martin Insurance Agency is here to provide answers. Because they’re an independent agency, they can shop around among their network of carriers to find you an affordable policy to suit your needs. They also believe in a personal approach, so they’ll sit down with you and discuss your needs before making a recommendation. Learn more about life insurance online or call (502) 957-6500 to schedule a consultation.