Top 3 Reasons You Need Life Insurance....(Even Millennials!)

Lots of people get stuck when you start talking about life insurance policies.

It’s sometimes scary to worry about anybody's death, especially someone in their 30’s who wants to focus on the now.

However, whole life insurance can be an effective way to not only save money, but to also protect the people and things you love for the future.

Here are the top 3 reasons I feel all Millenials should be thinking about purchasing a life insurance policy.

Reason #1: It's Cheap Now!

When you are young and healthy, and have years of life ahead of you, a whole life policy is going to be at its cheapest point. If you aren’t a smoker and live even a modest life, you will qualify for some of the best rates you’ll ever get when you’re young.

The older you get, the more you are going to pay to cover those very same things you hope to protect in the future.

Reason #2: A Sudden Death Will Affect Everyone Emotionally and Financially

The last thing any parent or spouse wants is to leave behind issues for their loved ones to deal with. Buying a whole life policy will protect those people from the costs and affects felt financially. Having a policy that covers short term costs will take the burden off your family and give them at least some peace of mind in an otherwise difficult time.

Reason #3: It Can Be A Great, Long Term Investment for You and Your Family

A whole life policy will continue to grow a cash value over its lifetime (tax free!), and this value can be borrowed against in the future, providing you an opportunity to save and provide for your family in the future even with a long and happy life. This allows you to cover some financial downsides during you and your families growing years, and an asset for your retirement.

At the end of the day, insurance isn’t only about protecting against the now, but also creating a safety net for any situations your family may incur. These safety nets allow you to go and build the life that you imagine, and protect your family at the worst of times, and offer benefits to you and them at the best of times.

I hope this helps!

KS