Navigating life after graduation is a difficult time for most people. Leaving the relative comfort of a college community and being thrust into a world rife with responsibilities like taxes, rent and cooking is a shock to even the most prepared of people. Unfortunately, we see a lot of young millennials leaving important things on the wayside, like life insurance. To help recent college graduates navigate the adult world a little bit easier, we’ve compiled the four most important things millennials need to know about life insurance.
College Debt Isn’t Going Away
Student loans are notoriously difficult to get rid of if you’re not paying them off. In fact, student loans are one of the few kinds of debt that is not forgiven if you declare bankruptcy. Did you have someone co-sign your students loans through the bank? Even if you should pass unexpectedly, whomever cosigned your loans would be financially responsible for paying them off. That’s right, even dying will not get your student loans forgiven. Don’t saddle your loved ones with unexpected debt, get life insurance.
If You Don’t Anything About Life Insurance, Consult A Professional
Yes, most millennials are used to instant gratification, whether it’s a one-touch order on Amazon or restaurant delivery to your door with postmates. Insurance should not be a one-touch buy. Take the time to do your research, and consult with a professional! The staff at TGS Insurance are life insurance experts, and always willing to help. Most agents will meet with you for no cost and make sure you get the right plan for you, at the right budget.
You Can Lock In A Rate
The standard industry advice for life insurance is to invest in it before you’re 30 years old. The reasoning for that is simple: the younger you are, the cheaper your premium and you can lock in your rate for the life of your policy. So the younger you are, the less life insurance will cost you. Simply put, life insurance will never be more inexpensive than it is now, so go get a policy! It’s worth the peace of mind.
Crowdfunding Is Not Reliable
Many millennials have been turning to social fundraising campaigns on sites like Kickstarter and GoFundMe. Yes, there are examples of successful fundraising campaigns to cover situations after an untimely death. But those examples are the exception, not the rule. You can’t rely on a crowdfunding campaign for fiscal protection. Life insurance protects both you and your loved ones, and can be relied on. Take the time to invest in life insurance, you’ll sleep better at night.
No matter how old you are, if you don’t have life insurance you should get it. Take the time to do your research and consult a professional! Remember, the younger you are the less expensive your life insurance is going to be. Don’t wait, get a policy now! Visit www.tgsinsurance.com for more information.