 How much insurance do I need? |
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 How many of you own a Life Insurance Policy and for what amount.? |
Are young ppl thinking about life insurance?
Additional Details
I sell life insurance that's why I asked. Are young ppl thinking about it.... |
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 Found lost ring, but already filed a claim and had it replaced? |
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charlemagne8410 | Why buy life insurance if you are young? |
What is the benefit of buying life insurance if you are young and not married and have no kids? |
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Michael M
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I always recommend that people buy their insurance to match their specific goals and needs. Since nobody relies on you financially right now you probably don't need life insurance right now.
You are taking a chance that you'll need that coverage in the future and that you won't qualify for it. You'll have to decide if that is a risk you want to take. We can't really afford to insure against every possible future outcome so you'll have to rank your priorities and see where having life insurance for future needs falls along with your other financial expenditures. |
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src50
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Because it is cheap when you are young and healthy. Later, when you need it, you may not qualify or find it to be too expensive. |
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Jon S
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Several reasons...
Even if you aren't married you may have bills to pay in the event of your death. If you don't have any debt who would pay for your funeral expenses?
Most people should buy a cheap term insurance from an A+ rated company when they are young.... because it's so cheap.
For example, I'm helping a client right now buy insurance as a 69 year old...why didn't he buy it when he was 39--"too expensive, don't need it." Most 40 year olds can buy a term policy for $10-20/month.
I would suggest you buy a small policy --and if you never marry you can donate the money to charity--tax free.
http://www.texastermlife.com |
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debijs
 |
~~The younger you insure yourself the cheaper and easier to get the policy. The only reason you may want it is so if something happened to you, your burial expenses would be covered and not left to parents or relatives to pay for. Other than covering that, I see no reason if you have no dependants, to carry it.~~ |
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mbrcatz
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The benefit is, the agent makes a whole lot of money from you.
Oh, you mean, the benefit to YOU? Minimal. You're locking in the rate now. Kinda like, buying a power saw from Home Depot, now, before the price goes up. Doesn't matter if you don't like tools, and won't ever use the saw. At least you're locking in the price now.
Seriously. Insurance is a financial tool. If you don't have a job, that you want the tool to do, don't buy the tool. |
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Sofa King
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There is absolutely no reason why you should buy a life insurance policy if you have no dependents, and your estate has enough money to cover all of your funeral expenses. Find out how much it would cost your beneficiary to take care of your affairs and there's what you need... no more, no less.
Also, only buy term life when you have a need for life insurance. Whole life is a scam. Don't believe people selling it - they make money from you buying it. Suze Orman used to sell it, and now tells people the truth. Term only, and only as much as it takes to cover expenses associated with your death. |
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car253
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You can get cheap life insurance when your young. You will probly get married and have kids and have lot of bills at some point. You can either wait until that happens or get life insurance now. Either way someone does have to pay the your bills when your no longer around. |
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Insurance Pickle.com
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PowderVitamins "if you live a long time anyway youre spouse and kids will have houses and cars without useless insurance.".....seriously what are you 12 years old? You obviously have never seen a church run a bake sale to try to raise money for a family because they didn't do any planning when one of the spouse dies. And you've never witnessed a widow(widower) wonder how she (he) was going to support the family now that either the sole financial source of income, the homemaker, or a combination of both is now gone.
There really is only one reason to get coverage when you're young and don't really need it and that is to insure you can get it when you DO actually need it. Other than that there's not much of a reason to do so.
Remember churches don't have bake sale for the well-insured.
http://www.InsurancePickle.com |
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silverclrk
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to always be able to insure your self my a cheap whole life policy get some cash value in it and then use the small cash value build up to pay for a mortgage protection policy (term life) to protect your future wife and kids. Also the premium will be chaeper |
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powdervitamins
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why would you pay money for a policy for insurance for someone else any way . you wont see a dime of it . if you live a long time anyway youre spouse and kids will have houses and cars without useless insurance. |
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