The Millenial's Guide to Life Insurance

Most people, but especially young people, overestimate the cost of life insurance, and a good percentage of people in their 20s and 30s mistakenly think they can’t qualify. This is according to a 2017 Insurance Barometer Study by Life Happens, and LIMRA. 

Simply put, if anyone depends on your income or would be burdened with your debt or funeral expenses when you die, then you need some form of life insurance. Getting married, having children, buying a home, having student loans or credit card debt - all are reasons to purchase life insurance. And because you are young, it’s more affordable. The prices rise with age, as life expectancy decreases and the chances of developing health problems increase.

You may be lucky enough to have life insurance through your job. But the free coverage provided as an employee benefit probably isn’t enough if you have a spouse or kids. And the coverage ends if you leave your employer, in most cases.

You may think going online for quick quotes is faster and easier - and just as effective - as meeting with a licensed agent to assess your situation. Please keep in mind, however that a professional can help you understand not only the basics of life insurance but exactly how much insurance you actually need based on your individual situation, the estimation of inflation and the various life changes in your future. Taking time to meet with a licensed agent is really the most advantageous step you can make. 

Be sure to bookmark LCD's Blog, Why It Matters, so you never miss helpful tips and articles: https://www.lcdinsurance.com/blog/

#lifeinsurance #millenials #young #affordablelifeinsurance #LCDInsuranceServices #WhyItMatters