A Guest Post today from Crystal –
Life insurance is little more than an afterthought for many young people. With their entire lives ahead of them, few if any responsibilities and minimal consideration of their own mortality, life insurance seems like little more than a way to waste money and not have fun because of it.
However, full-scale adulthood eventually sets in. In what seems like no time, many people marry, have children and make a number of other personal and financial commitments that all depend greatly on their continued health.
These people often take out life insurance policies to protect those they love from economic disaster regardless of what may happen in the future. It appears that at a certain point, life insurance becomes necessary in the lives of many people, but at what point? Just how old do you have to be to start thinking about life insurance? 30? 45? Should you apply for a policy from your deathbed?
The answer is it’s never too early, once you have responsibilities, that is. No matter how young you are when you have a family that depends on you, their needs will remain the same in your absence. The unpredictable nature of life often leads to unexpected consequences. Check out the official AAMI website at http://www.aami.com.au/life-insurance
The next person to meet with an untimely demise will not be the first, and so it is always advisable to ensure the security of those you love should tragedy strike in the form of a speeding bus.
Getting a life insurance policy at a fairly young age also saves you money. It is actually better to get life insurance the younger you are, as insurance companies will see you as a safe risk and offer you an excellent rate provided you don’t have the health of someone much older.
Waiting until you are a certain age or until you already have health problems could result in much higher premiums than you would have otherwise paid, and even the risk of outright denied coverage should you develop a health issue or lifestyle habits deemed uninsurable before applying.
Life is uncertain, and so it is important to have a viable contingency plan for virtually any foreseeable event. As soon as you are in a stage of life where others depend on you for their survival, you should consider taking out a life insurance policy.
A life insurance policy helps protect those who would have great difficulty providing for themselves in the absence of a policy holder of any age. If you can find some room after the party budget, you should certainly consider it.