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Think you're young you do not need life insurance? What if. | CoverLink insurance



Many consumers make the mistake of assuming that they do not need life insurance because they are young. Even if the probability of an event is lower when you are younger, it does not mean that something can not happen.

And while life insurance can be an unpleasant thing to think about or feel like an unnecessary expense, you need to consider it if you have any relatives who trust you for financial aid. Life insurance is really about protecting your relatives if something happens to you and can often make a big difference to them when they are trying to navigate life without you.

Let's take a look at a real example of two young parents …

Youth Minister Preston and his wife, Tara, met during college and soon married. After visiting their local insurance agent to buy car and rental insurance, they decided to look at life insurance. With a 1

9-month-old son and another child on the way, life insurance policies were very meaningful if anything ever happened to any of them. Unfortunately, this worst case became a reality a couple of months later.

While driving to Canada to visit Tara's parents, a group of cars in front of the couple slammed on the brakes and turned right on the road. After stopping, Preston jumped out of the car to find out what was happening. One of the cars had hit a moose and when Preston realized that a passenger was bleeding, he ran back to his car to tell Tara to call 911. When she reached for her phone, a car flew by and hit Preston and killed him immediately.

Thanks to the life insurance that Newby's bought months earlier, Tara was able to pay off the family's existing debt and support her two young sons after Preston's sudden death.

Having life insurance is almost always a necessity if you are a parent, unless you have significant savings in the bank or on your pension accounts (and even then it is still a good idea).

Children are expensive, and it can be almost impossible to raise them on a person's salary. There are too many sad stories out there about families who had a great life until one parent died and forced them to shrink just to scratch past.

If you don & # 39; t worry about leaving before your time, think about how you & # 39; feel if your children can no longer afford to go to summer camp or leisure activities. This is what life insurance is for – so that your loved ones will not be affected more than they must when you die.

It is especially important to buy life insurance for both parents, even if one person stays at home. Keep this in mind: If you stay at home with your children, your partner will have to pay for childcare when you are away. In many cases, it can cost almost as much as a full salary.

You may be thinking, "I do not have children, so I need a life insurance policy?"

Many people do not think about getting life insurance until they have children. After all, you're not really responsible for another person until you become a parent, are you? Well, not necessarily.

If you are a newlywed couple without children, but have some outstanding mutual debts, you need a life insurance policy. For example, if you bought a home together and have a monthly mortgage that both pay for, a life insurance policy would help cover the costs if one of you died unexpectedly.

Or consider funeral and end-of-life expenses. A funeral and burial alone can cost several thousand dollars and it does not include any costs for an unexpected accident, hospital stay or long-term illness. They can really post. If you do not have enough savings to cover the costs, you need some life insurance coverage.

The conclusion is that if you can not easily manage expenses like these from your savings accounts, you need life insurance.

Whether you are 25 or 55 years old, a life insurance policy gives you peace of mind if your worst will be taken care of should the worst happen.

Even if you already have life insurance through your employer, you may be underinsured. Call CoverLink Insurance today – we can work with you to make sure there are no gaps in your current coverage and talk to you about all your options.


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