Millennials have plenty of financial challenges to worry about such as paying off student loans, saving to buy a house or even a new car. Purchasing life insurance usually gets put on the back burner, which can be a huge financial mistake. Here are a few reasons why you should consider purchasing it today:
When you are young and healthy, life insurance costs less. Everyone wants to save money so what are you waiting for? You are only young once – take advantage of it.
It’s financial protection for your loved ones.
It’s hard to think about what would happen if you were gone. Imagine how hard it would be for your loved ones. Picking up the pieces while dealing with a mountain of emotions can be stressful. Without life insurance, any debt you have could fall to them. Do you really want to burden them with something else during an already difficult time?
Your employer coverage may not be enough.
It’s definitely a bonus to land a job that offers excellent benefits including life insurance. However, if something were to happen to you, would it be enough to cover all of your expenses? Did you know that when you leave a job that you lose your employer provided life insurance? Take control of your financial future by establishing your own life insurance policy.
You need it more than you realize.
You may think because you don’t have a family of your own that life insurance isn’t for you. Traveling and buying that cute new puppy might be at the top of the do list instead. What you don’t realize is that covering your debts if something were to happen to you should also be ranked at the top of the list. Life insurance should still be a priority when you’re just starting out.
You might be thinking, wow. Catholic Financial Life makes some convincing points. I really should consider purchasing life insurance… we agree! Contact a Catholic Financial Life Advisor today to help get you started.