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Why You Want Car Insurance

When you first bought that car, you were probably mainly concerned about how it looked and how much you had to pay each month. However, if you want to keep driving your new ride, you need to understand the importance of car insurance. There are a lot of options out there, which is why I decided to make a website about auto insurance policies. As a car enthusiast, I currently own 21 cars, and I could tell you horror stories about people who decided not to worry about insurance. If you want to protect your investment and your personal wealth, auto insurance is something that you need to have. I made this website to teach others about auto insurance, so that you can make a great choice.

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Why You Want Car Insurance

Young, Healthy And Insured: Why You Should Buy Life Insurance As A Young Adult

by Luke Fisher

When you're young and facing a world full of possibilities, the last thing you want to think about is your own mortality and the need for life insurance. After all, in your late teens and early adulthood, your focus is on the opportunities ahead of you and enjoying life, not considering the potential of death. There are many situations, though, where you'll want to think about investing in a life insurance policy to protect your family. Here's a look at some of the benefits of life insurance, even for the young.

You Contribute Financially to Your Parents

If you live at home with your parents and work to help support the household, you should consider investing in life insurance. It's hard to think about the fact that something could happen to you, but if it does, you want to be sure that your parents don't struggle with the loss of necessary income while they're grieving.

Think about how much money you put into the household finances and invest in a life insurance policy that will provide a couple of years of that amount. That gives your parents time to sort things out without feeling a financial strain.

You Have a Significant Other to Support

As a young couple, particularly if you've purchased a home, you'll want to think about what could happen financially if either of you should pass away. Invest in a life insurance policy that will not only help to cover funeral costs but also cover the cost of the mortgage. Even if you can't get a policy that covers the entire mortgage balance, any money that can be used to pay it down is beneficial.

If you are supporting a significant other as they complete a college degree program, you'll want to make sure that your life insurance policy covers your annual income for the remaining number of years until he or she graduates. For example, if you earn $45,000 a year and your significant other has three years left to complete, you'll want to include $135,000 to support your loved one through the end of the program.

You should also consider the fact that having a life insurance policy will allow your significant other the time to deal with the loss without the panic that can come from losing the sole source of household income. When you plan ahead, you can rest easy knowing that your loved one isn't going to have to stress about how to pay the bills since you've been the one supporting him or her.

You Don't Want to Burden Others with Funeral Costs

Funerals can be expensive. As of 2012, the median cost of a funeral is just over $7,000. If you want to cover these costs for your loved ones, as well as the cost of your grave marker and cemetery plot, life insurance is the best option. You can purchase a funeral-only policy which has a low death benefit amount that's intended to cover the cost of your services.

It's Cheaper to Buy When You Are Young

As you age, you become a riskier investment for life insurance companies. The increased risk can lead to higher insurance premiums if you purchase a life insurance policy. If you opt to buy when you're young and healthy, you're a much lower insurance risk. This means that you can purchase a term life policy with low premiums that will still offer the same death benefit in the event that something should happen to you.

When you reach the end of the term policy, you can talk with your insurance company about converting it to a whole life or universal life policy. Many insurance companies will even offer you premium discounts if you're converting a term policy, because it shows your commitment to the company and you have a proven insurance history with them.

Although you hope to never need a life insurance policy when you're young, it's always best to plan ahead. With the information presented here, you can understand why it's in your best interest to invest in a policy while you're young. For more information, contact a local insurance company, like Drayden Insurance.