Catholic Financial Life Blog

Congrats! You're a College Graduate! But Life Insurance - Really?

Posted by Catholic Financial Life

May 19, 2015 11:27:00 AM

Congratulations – you finally did it! Graduating with a degree after pursuing higher education is no small feat, and you should be proud of all that you’ve done to get that piece of paper. It's a new chapter in your life. Your "real adult life" has become a reality- probably faster than you thought. You might be concerned about finding a “real-life” job so you can afford the lifestyle you've been looking forward to - a nicer car, a bigger apartment -- and of course paying off your college loans. But if your like most new college grads, you're not thinking about purchasing life insurance. (Like really?)

Graduation-1

Really--Life insurance is much more important than you think.

Here are 3 reasons why you, as a recent college graduate, should consider a life insurance policy:

  1. Student Loans. God-forbid something would happen to you. But if it did, would your parents or your future/current spouse be left with that debt. Depending on how your college loans were structured and in what state you reside, your loans might become a financial burden for someone else. Taking out a life insurance policy can help protect against this by naming him/her as the beneficiary on your policy.

  2. You’re healthy - now. Okay, so all of those late-night pizza deliveries and skipping the gym to "study" (or watch Netflix) may not have been the healthiest decisions, but you’re young and your health is to your advantage right now. Did you know that you will lock-in cheaper life insurance rates if you purchase a plan while your young and healthy. Life insurance rates increase as you age. If you're thinking of getting married, buying a house, or starting a family someday it's going to be a necessity. Why not purchase while it's less expensive?

  3. It's really pretty cheap - now. Believe it or not, life insurance is very affordable – even for graduates like you who focus on budgeting expenses. To give you an idea of how little it costs, a $250,000 20-year term life Insurance plan from Catholic Financial Life costs about $25 month - for a 25 year old! That’s less than $1 a day.* 

You can do it! Really.

If you'd like to learn more about our life insurance options, contact a Catholic Financial Life advisor in your area.

 Contact an advisor about our your retirement options

 

 

*Price of insurance is based on age, amount of coverage, type of plan, health status, and other information. This post is meant to provide general information about insurance. Catholic Financial Life is headquartered in Milwaukee, Wisconsin. Not all products are available in all states. Term 20 Policy Form# ICC10 TRM; 2010 TRM AR; 2010 TRM AZ; 2010 TRM CT; 2010 TRM IL; 2010 TRM ND; 2010 TRM SD.

 

Topics: Advent, Life Insurance, Graduate, College