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Why You Need Insurance #SQinsurance #ad

October 14, 2016 BY Michelle Schroeder-Gardner - 4 Comments

This post may contain affiliate links. Please read my disclosure for more info.

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This article was sponsored by SelectQuote, but all thoughts and opinions are 100% my own as always. SelectQuote has been in business for over 30 years and has expertise in finding the lowest cost life insurance option. Also, SelectQuote is more than just life, but also auto, home, and senior care. Please enjoy the blog post below on why you should have life insurance.

I am a personal finance blogger and I am quite ashamed and sad to admit what I am about to say. Hear me out, though, I actually plan on changing this time for the better!

I’ve been saying this for quite some time but now I plan on getting serious about the secret that I have been holding inside of me.

I still do not have life insurance!

Okay, I feel a little better now, but that still does not change my situation and the fact that I don't have life insurance.

Both of us used to have a small amount of life insurance that was provided for by the companies that we used to work for when we had our day jobs, but that was over three years ago now and it was a pitiful amount for life insurance.

Yes, we will definitely have life insurance before we start a family, but it wouldn’t hurt us to start searching now since that won't be for awhile.

Plus, we know that having life insurance is so extremely important to have, which is why we are so ashamed that we keep putting this serious situation off.

Here are the reasons for why a person should have life insurance – whether you have a family or not!

 

Does someone depend on you?

I am sure that there is someone in the world who depends on you.

If someone, anyone, depends on you, such as children, a spouse, parents, etc., then you should get life insurance because you just never know what may happen in the future. You may be the healthiest person in the world, but you still cannot predict the future and what may come from it.

By having life insurance, your loved ones and anyone who depends on you will still have a way to pay the bills and grieve without having to worry about money.

Life insurance such as through Select Quote can help your family and loved ones after something happens to you so that they can continue to pay their normal day-to-day bills and any debt that you may leave behind. Life insurance may even help them pay off the mortgage, pay for their education, and so on.

You do not want your loved ones to struggle, correct? I am going to guess that you do not want them to struggle, so please find life insurance, such as through Select Quote, as quickly as you possibly can!

 

Do you have a co-signer on any of your debt?

If you have a co-signer on any of your debt, then you should for sure have life insurance. Seriously, it's a NEED for you.

This includes a mortgage, student loans, car debt, personal loans, and the list goes on and on. Any type of debt that is co-signed is included in this section and counts!

You need life insurance in this circumstance because if anything were to happen to you, then whoever co-signed on your debt would all of a sudden be responsible for paying off your debt. That's probably not what you wanted, correct? This could completely devastate a person's financial situation.

The responsible action to take in this case is to get life insurance, so that your debt can be paid off by the life insurance.

 

Could you lock in a more affordable life insurance price right now?

Many people skip over life insurance because they are young. However, now is the time to buy, not to skip it! This is because those who are young and healthy usually qualify for the best life insurance rates.

This low pricing could benefit you well into the future, plus you will be covered by life insurance, so what could beat that?

Do you have life insurance? Why or why not? If not, when do you plan on getting life insurance?

 

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4 Comments
Filed Under: Retirement, Writers

About Michelle Schroeder-Gardner

Michelle is the founder of Making Sense of Cents, a blog about personal finance and traveling. She discusses how her business has evolved in her side income series. She paid off $40,000 in student loans by the age of 24 mainly due to her freelancing side hustles. Click here to learn more about starting a blog!

Comments

  1. Lindsey says

    October 14, 2016 at 7:42 am

    I made my fiance get a life insurance policy before we got engaged. Life insurance is SO important! After my mom passed away, I got to see firsthand the importance of a good policy.

    Reply
  2. Josh says

    October 14, 2016 at 11:09 am

    Most people, like you yourself mentioned, think of life insurance as a necessity only when they have children. I never considered the fact that anyone co-signed with you would be responsible for your debt if you were to pass away.

    Another way to look at life insurance, as morbid as it sounds, is as an investment on your death. With premiums being so relatively low on term life insurance the payoff would be a massive return should you pass early.

    Thanks for sharing!

    Reply
  3. TJ says

    October 17, 2016 at 12:07 pm

    Yup, this is why I bought it a 30 year term policy at 29-ish. I feel like it is penny wise dollar foolish to just assume you’re invincible and will get approved for a policy at the best rates when you want it.. Life happens. Happy to have it and hopefully my future spouse will appreciate it. 🙂

    Reply
  4. Daniel Morgan says

    December 10, 2016 at 3:26 am

    It’s simple to be secure of your life in future,it’s better to save now while you are working.

    Reply

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Hello and welcome!
My name is Michelle and I'm the author/owner of Making Sense of Cents. Learning how to save money and make more money changed my life. It allowed me to pay off $40,000 in student loans, start my own business, and I now travel full-time.
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