Life Insurance Quiz
Having a child is a major factor influencing people’s decision to purchase life insurance, but you shouldn’t wait until you have a child to pursue a policy. Life insurance is essential for any adult, and it can cover a range of expenses after your death. If you sign up for a policy before you turn 35, you can secure a cheaper rate for monthly premiums, but many factors enter into the final calculation. But why do you need life insurance?
As an adult, you assume many responsibilities, whether you’ve taken on the burden of student debt, own a home or business, or have — or plan on having — children. Life insurance can cover these costs after your death. This insurance ensures that the financial burden does not fall on your family members. Securing a life insurance policy before taking on these responsibilities is also a good idea. For example, financial analysts expect college costs to rise to $262,000 by 2037.
Life insurance can help with these costs, and if you secure a policy now, you can lock in a rate that will remain the same for decades or more. Not only will the cost of items such as mortgages and college tuition increase in the future, but so will the cost of securing life insurance — an expense that gets amplified by your age and any medical conditions you’ve developed during that time. Why not complete one simple quiz on Health IQ to learn about why securing life insurance is so important? Don’t put off this decision any longer.