Why Graduates Should Have Life Insurance More Than You Think

Congratulations, You graduated!

You are now being thrown off into the world with a degree, hopefully a job, and more responsibility than you have ever had in your whole life.

Among the many responsibilities (like paying bills or getting an apartment) you now have to pay off your student loans.

That’s right, now that you’ve graduated, you are responsible for the mountain of money you have borrowed and promised to pay back.

That can be fairly easy if you pay regular increments and as much as possible. But this debt doesn’t go away quickly.

And if you have debt under your name, you could be in a risky situation and in need of life insurance.

 

Related: Life Insurance 101

 

Here’s Why

Any person who has student loans in their name is responsible for paying that debt.

So let’s say, you have graduated college and have all of these student loans you plan to pay off within the next 20 years.

But, a few years after you graduate, something happens and you pass away.

Your student loans do not disappear. 

Your loved ones will then be responsible for not only planning and paying for your funeral, but also for paying off your student debt.

I don’t know about you, but I would not want to leave that burden on my family members.

 

What Now?

So, now that you are an adult (scary, I know) you should be planning for your financial future should anything happen to you.

That’s why you should be getting life insurance.

The money from a life insurance death benefit could help your family pay for your funeral expenses, but most importantly, the thousands of dollars of student debt you owe.

There’s also great benefits to getting life insurance while you’re young.

  1. You won’t have to worry about any financial stress you’d be leaving behind.

  2. Life Insurance is much cheaper for a 23-year-old than it is for a 43 or even a 63-year-old. Life insurance, when you’re young, can be as little as $1 a day. This is the youngest you’ll be, and most likely the healthiest you will ever be. (Calculate your life insurance costs here.)

  3. You will be ensuring that you and your family have peace of mind when it comes to your future.

There will be no worries, and you can start planning your life after graduation.

 

Related: Becoming a Homeowner

 

Take some worry off your mind in this uncertain time of finding a job and place to live after graduation, and get a life insurance policy.

It can cost about $1 a day (less than your daily Iced Vanilla Latte) and quotes are always free with no obligation.

Why not take one more thing off your to do list and make sure your student loans can be paid, by you or whomever the burden may fall to?

 

“If it’s important to you, protect it with someone you trust.”

Call 815-626-1300 to get a free life insurance quote or

Email contact@hughmillerinsurance.com and ask for a life insurance quote from Mike.