Almost a month ago, an insurance agent visited us. My husband had decided to purchase whole life insurance for both of us. When I was younger, I thought that only senior citizens could benefit from an insurance. I changed my mind when an acquaintance’s husband was diagnosed with cancer in his late 20s. He died four months after his diagnosis. His widow told us that he has life insurance so she didn’t need to worry about the hospital bills.
It’s never too early to be insured, specially when you have a child. I initially asked my husband to purchase term life insurance so we can save on the premium. The insurance agent was diligent enough to explain everything to us. He even did it in Korean and English for me. In the end, we chose the whole life insurance. Aside from the agent’s explanations, I also tried to get information online. This website on life insurance has an education center so you could learn more about it.
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You are so right that many people think that insurance is only for seniors!
My wife is a hospital worker and she comes home every week with tales of young patients found to have terminal illnesses.
Planning for the unexpected is difficult but necessary. Recently I even began a burial insurance program that covers funeral expenses. This is basically just a term life policy and so has a low rate.
In America these are called Final Expense policies.
I think everyone should have this coverage.
I agree with you, we need to start getting insured as young as possible because who knows, maybe something will going to happen to us or maybe we will get sick at an early age just like your acquaintance’s husband. Being covered by insurance, we will going to have peace of mind if anything happen to us or to our family.