As a young working professional, you have your whole life before you. More than likely, you live independently and pay your own bills. Essentially, you’re building a life that should help you to live comfortably. Many young professionals look for ways to help their money grow and create a lifestyle that will last well into adulthood.
Investing in life insurance is a great way of ensuring that the people and the things that you love will be protected and maintained should you pass away. Our team at Integrity Advisors Agency LLC is committed to helping San Antonio, TX residents make smart financial decisions about insurance.
What is Life Insurance?
Life insurance is designed to pay your chosen beneficiaries a sum of money after you pass away. Depending on the insurance policy, your beneficiaries, or you, may get a sum of money if you become critically or terminally ill as well. Like any insurance policy, you pay a monthly sum to the insurance company to maintain your policy. You are required to list the people who will receive the lump sum payout as your beneficiaries.
Typically, the payout is equal to the coverage amount. However, if you pass away sooner than the agreed-upon terms of your insurance policy, your beneficiaries can file a claim for a portion of their payout. Like medical insurance, life insurance is cheaper if you purchase it when you are younger. Of course, the type of life insurance you invest in should be determined by your personal situation and preferences.
I just graduated from college and landed my first job. Do I need life insurance?
Life insurance is the least expensive when purchased by a younger person. If you have assets you want to protect as you get older and plan on having a family, (if you don’t already have one), life insurance may be a worthwhile investment. Once you pass away, the death benefit or payout helps your family to pay for any number of things. The beneficiaries can use the money any way they see fit. If you’re a young person interested in taking care of your family and assets, life insurance is a good investment.
Schedule A Consultation Today
If you have questions about life insurance, call us at Integrity Advisors Agency LLC in San Antonio, TX. We’re standing by.
