When you’re young, you feel untouchable. You feel as if nothing can stop you. You feel invincible. Because you feel this way, you’re far less likely to be thinking about life insurance. I mean, it makes sense. The problem isn’t that you don’t have life insurance while you’re young. The problem is that you’re not taking advantage of an enormous opportunity that will surely disappear by the time you’re old, gray, and wrinkly. Life insurance is much cheaper when you’re young because insurance companies know that you are far more healthy. So, they are far more willing to give you a cheaper rate to pay.

Everyone has a life story. Everyone faces different challenges at different times in their lives. Some people may face incredible physical challenges early in life, others later in life. The point is we all face them at some point or another. Insurance companies know this and anticipate them. You need to be in the know as to how insurance companies work and think.

We don’t know what life will bring us in the future. We really don’t even know what is going to happen on a day-to-day basis. All we can do is anticipate, prepare, and act accordingly. No one can know if they are going to crash head-on with an 18-wheeler, leaving them paralyzed from the waist down. And no one can know with 100% certainty that they will not develop some form of cancer during their lifetime. The point of bringing this up is not to scare you. It’s to educate you on why it’s important to get life insurance while you’re young.

If you are elderly and develop some form of cancer, it’s too late. Insurance companies may agree to give you a life insurance policy. But, don’t be surprised if the cost is astronomical. If you have children, don’t you want to be able to protect them? Life insurance can help with that. Life insurance can help pay for your child’s college education.

If you have a mortgage on your home, have kids, and you die unexpectedly, guess what? Your kids are going to have to pick up and carry that heavy burden. A life insurance policy can help in that case. When you die, your family is already faced with a terrible loss and tragedy. Why would you want to compound the loss by burdening them with the financial stress of a home mortgage?