Life Insurance: Why it's the best investment on your 20's

November 25, 2016

Admit it—when you hear the words “life insurance”, the first thing that comes to your mind is death. And because you’re too young to worry about the time you have left (which most probably will not come any sooner), you don’t consider getting it, for now.

But do you know that today is the best day to start protecting your future? Here are the benefits from investing in life insurance in your 20’s:

• Insurance is cheaper

This is the most underrated benefits from investing in life insurance in your 20’s. Insurance companies price premiums depending on the age. This means— the younger you are, the cheaper you’re going to pay for the rest of your coverage! Most companies don’t increase the rate of their premium for the entire coverage, which is a great deal for those who will start investing at an early age.

• You are healthier

Since you are younger, you are a lot healthier than your future self. You have to take note that some insurance companies conduct medical examinations to know how much of a risk you are. If your all over health is doing good, your chance of being covered is higher—if not, you’re most likely to be rejected (ouch).

Don’t lose the motivation, though! There are insurance companies in the Philippines that don’t require a medical examination.

• Your budget is bigger

While you’re in your 20’s, you don’t have much responsibility. The time will come that your money will end up going to bills, mortgages, and others. Take advantage of this time to invest your money into something worthy. Sure, it would take a lot of discipline to invest in insurance, but that discipline would go a long way. When the time comes that your family will need financial assistance, your insurance will save you.

• Your money will earn more

Some companies offer a package of security—insurance not just for your life but also for your savings! Moreover, insurers offer high interest rates. According to professionals, the key to investing for younger people is to start early. This means longer time to make your interest accumulate over a certain period of time. It is also a plus that this will help you earn more while enjoying the protection that your insurance plan provides you with!

It’s now time to start thinking it through! You’re young and you probably want to spend your hard-earned money buying all the things that you want, but you have to get your money’s worth as early as now. Plan your future ahead!

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