Do millennials need life insurance?

Life Insurance for Millennials

Here’s why millennials should consider getting life insurance.

While most people don’t start thinking about life insurance until they are married and starting a family, there are some benefits to getting life insurance at an early age.  Here are some of the reasons why millennials should consider investing in a life insurance policy today.

It’s Cheaper

Your age and overall health are both factors that influence your life insurance rates.  Generally speaking, the younger and healthier you are, the lower your premiums will be.  By getting life insurance earlier in life, you can lock in lower rates than you will ever have access to in the future.  This in turn will save you a considerable  amount of money over time.

Funerals are Expensive

Did you know that the average funeral costs upwards of $7,000?  If you were to die suddenly without a life insurance policy, then your loved ones would be responsible for any expenses associated with your death.  If you do not want to saddle your family with this extreme financial burden, then you should take out a life insurance policy to cover your funeral and burial costs.

You May Have Debts

Unfortunately, many millennials are saddled with considerable student loans and other outstanding debts.  If you were to die suddenly, then your debts would fall to your family and become their financial burden.  If you would like to save your loved ones from this financial pressure, then it’s important to have a life insurance policy with a benefit large enough to take care of your debts.

These are some of the reasons why millennials should consider getting life insurance earlier in life.  If you have more questions regarding life insurance, then don’t hesitate to contact us at Higgins Insurance Agency.  Our knowledgeable professionals are ready to get you covered today.