We tend to feel pretty invincible when we're young. Hard won experience shows that this isn't always the case. Young adults may come down with terrible diseases or be victims of tragic accidents on a daily basis. Those gruesome thoughts aside, if you're in your 20s and haven't thought about buying a life insurance policy, you're not alone. Here are several reasons why you should consider buying life insurance now, and what you need to know to select the right coverage.
Why You Should Buy a Life Insurance Policy
Life insurance is the ultimate financial tool to prepare for those unforeseen events that can be financially devastating for those we leave behind. If you think that you aren't leaving anyone in a lurch, be absolutely certain about this. Do you have student loans or other debts that family members have co-signed for you? It would be in poor taste to leave those debts to someone as your legacy. Likewise, someone will need to pay your final burial expenses, as unpleasant as that sounds.