Is Life Insurance A Waste Of Money If I'm Young & Healthy?

Written by Ron Wadley | Sep 17, 2019 2:42:00 PM

Today we will get a bit personal with the topic of Life Insurance. Over the last week I have personally experienced multiple deaths in my personal network. As a member of the cycling community, one of them really hit home. An incredibly fit and healthy guy with a young family was taken way too soon in an unthinkable manner. Death is an unthinkable thing when you are young, and Texans are not always talking about it. But when I see people relying on Go Fund Me pages for burial expenses, I get a little turnt as the kids say. The agents at Insurance For Texans are all available to help with life insurance and one question that we are faced with frequently is centered around whether or not life insurance is a waste of money if you are young and healthy. So here is the stone cold answer.

Life Insurance Is NEVER A Waste Of Money!

Regardless of your age, life insurance is never a waste of money. It is a very practical and effective way to plan for unintended events in your life. Your age and your health are irrelevant to the equation. Neither of those two descriptors of you can prevent a car accident on your way home from work or any other unplanned event. But beyond those incredibly catastrophic events, understanding that none of us are promised tomorrow just has to be understood. In the most recent events in my own life, both of the people were "taken way too soon". There can be a sense of "I will take care of that later" that can potentially wreck your family's ability to sustain itself after a loss.

Why Do I Need Life Insurance?

Here are the three key items to consider even if you are young and healthy as to why you NEED life insurance.

Debt - The single biggest challenge that family's encounter after the passing of a family member is the loss income with respect to the amount of debt that they are up against. Having enough coverage in place to eliminate the debt can change EVERYTHING. And the likelihood of you having debt while you are young is incredibly high.
Final Expenses - It doesn't matter if you are 22, 42, or 72, when you pass on from this world there is a cost associated with that process. When I took my mother to the funeral home 18+ years ago when my dad passed away, the question of how would you like to pay for this was shocking. It's real. Don't saddle your family with that even if you don't like them.
Springboard For Children - You would do anything for your children. Or you will do anything for your future children. I mean, have you pondered the vomit clean up? One thing you want more than any other is to make sure they have a great start to their adulthood. How do you do that if you're not here? Make sure that they start off on the right foot financially!

I know this is an uncomfortable topic. I know you think it's a waste of money. If nothing else, get a small amount that costs you less than $10 per month to make sure that those final bills are wrapped up. Just do something. If you don't believe me that it can be less than $10 per month, click on my online rater and just check for yourself! No pressure whatsoever. I won't even know that you've been there.

If you're looking to dive deeper into the topic of life insurance, we have some great additional resources available to you.

If you prefer speaking to someone, just click the blue button below to schedule a time with one of our agents. We know this sounds cliche, but life insurance really is the most important policy we can offer you. Don't make your family depend up on Go Fund Me.

View full post