When you are young and single, the last thing that is probably on your mind is life insurance. After all, why would you want to pay a monthly premium when you have no spouse or kids to reap the benefit? Unfortunately, many young people have this kind of attitude, which can hurt their families when they pass away. You may think that you have no debt or other expenses to pass onto your family, but the trillion dollars of student loan debt that exists in the United States may help to convince you otherwise.
Are you one of the thirty seven million people in the United States with student loans? If so, you may want to start considering life insurance. Although you may not want to consider the benefits for your future spouse and children, there are immediate benefits for your parents and family, especially if they helped you get your student loans by cosigning for you. That debt won’t just disappear if you pass away before you pay it off, you will be passing the bill onto someone that you care about.
There are many reasons as to why you should still look into getting life insurance, even if you are young and single, and your student loan debt is just one of them. Learn more about life insurance and how to start planning for the future wisely when you to turn to the experienced financial advisors from Advanced Wealth Advisors in Naples! Request a consultation on our website or call us today!