I get it. You've never thought about life insurance before. I mean c'mon, you don't have kids, and you're not even married so why would you need to spend dough on something as uncool as life insurance? Here are some reasons why you might just want to.
Debt and Student Loans
Like most young people in their 20s or 30s you might have taken out student loans. Chances are your parents or someone else may have co-signed the loan for you. If you can't pay your debt the bank that made the loan will go after the co-signer to repay the loan. If you kick the bucket, chances are you won't be sending in a monthly check from heaven. Life insurance to cover your student debt is a good idea to protect whoever cosigned your loan. Do the right thing and make sure you have life insurance just in case the worst happens.
If you don't have any student loans, you might have daddy's credit card. Hopefully not the black AMEX, but maybe you put some debt on your visa card when you were younger than and not as wise as you are today. Don't leave mommy and daddy with the debt, get some life insurance and don't leave your parents hanging.
If you do die young your family will probably be devastated. The last thing you want them to worry about while they are grieving your death is putting together the money for final expenses, such as burial costs. Having a small policy to cover your final expenses is a really thoughtful way of showing you care about the financial impact on your family.
If you have a favorite charity, temple or church you are affiliated with, having a life insurance policy can be a nice way of leaving them some much needed funds when you are no longer here. That doesn't mean you're have to leave everything to the charity, but if you have a $100,000 policy, you can leave as much or as little of that to your charity of choice. Maybe you'll look down from heaven and see the giant plaque they made commemorating you because you were just so generous!
Preparing for the Future
You may not die young at all. In fact one day you may become a real adult with a family and responsibilities. You would want to get a life insurance policy today because you can save money by getting a policy when you're young and healthy. As you get older rates go up and you may put on some pounds, or worse develop a health issue and not be able to get a life insurance policy at all. Lock in your insurability while you're young to prepare for the future.
Lastly, most people think that life insurance is expensive. For a few cups of Starbucks a month you can have a life insurance policy. When you are in your 20s and 30s, a policy can be as cheap at $10 or $20 bucks a month and you can even get a policy without having to go through a medical.
So yes, no kids, no wife, and maybe not much money, but getting even a small life insurance policy is the right thing to do. So stop texting and tweeting, and request a quote on our site!