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Do Millennials Need Life Insurance?

Find out why millennials should consider getting life insurance.

If you are part of the younger generation, then life insurance is probably one of the last things on your mind.  However, there are some serious reasons why you should consider investing in life insurance.  Here are some of the reasons why a life insurance policy might be in your best interest.

  • It’s Cheaper

Your age and overall health are some of the factors that affect your life insurance premiums.  Generally speaking, the younger you are, the fewer major health conditions you have.  This means that getting a life insurance policy now will allow you to lock in much cheaper rates then you would be able to when you are older and in worse health.

  • Funeral Expenses

Average funeral and burial costs can range anywhere from $5,000 to $10,000.  If you do not have life insurance coverage, then the financial burden of your funeral and burial costs will fall to your family.  Getting a policy now will ensure that your family will not face financial hardship in the event of your sudden death.

  • Debt

Unfortunately, most millennials have serious student loans and other debts to attend to.  If you were to die before you could pay off your debts, they would fall to your family.  If you don’t want your loved ones to be saddled with your outstanding debts, then make sure you have a life insurance policy with a big enough benefit to address your debts.

These are some of the reasons why millennials should consider investing in life insurance.  Do you have more questions regarding your life insurance coverage?  Don’t hesitate to contact the professionals at The Schwab Agency in Colleyville, Texas.  Our dedicated team is ready to assist you with all your insurance needs.

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