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Life Insurance at an Early Age

Life Insurance at an Early Age

| June 15, 2020
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Perhaps you’ve heard the maxim, “Preparation is the key to success.” But when it comes to life insurance, knowing when to prepare is almost more important than the preparation, itself. 

Sure, it can be difficult to think about life insurance as early as your 20s, but life moves pretty fast sometimes. Before you know it, you’ll be in your 30s and possibly supporting a family. Even if you have a different life plan, taking care of those who matter most is always a wise move.

Many consumers believe they simply can’t afford life insurance on top of all the other bills they pay at an early age. Especially since surrendering your policy prematurely can lead to extra fees and potentially impact to your income tax. That’s a valid concern! After all, you should never engage in any sort of financial venture beyond your means.

But did you know the average cost of term life insurance for a 25-year-old is $22.83 per month?1 

Maybe life insurance at an early age isn’t as unrealistic as one would think. It’s important to remember, however, that this is an average rate, and the cost and availability of life insurance is influenced by factors like age, health, and the type and amount of insurance purchased. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

Insurance can be an intimidating topic, but it doesn’t have to be. I’d love to chat with you about your choices. Call today or respond to this email, and we’ll set up a time to talk. Even if right now isn’t the best time to purchase life insurance, discussing the future is a smart move.

Contact me with questions or comments.

Brandon Grocki

Brandon Grocki

Total Financial Concepts, Inc.

106 Apple Street Suite 204

Tinton Falls, NJ 07724

Phone: 732-225-7404

Citations:

1 - valuepenguin.com/average-cost-life-insurance [7/17/19]

Disclosure: This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Compliance Note: A5AL-OCT21

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