Lancaster & Associates Insurance, Inc. Blog
Why You Are Never Too Young For Life Insurance
Are you in your twenties and considering life insurance? Do you not see the benefit of it? Did you think that life insurance was something you bought when you had kids or got older? Think again. Life insurance is often easier to get and cheaper to afford while you are still in your 20s.
The Purpose of Life Insurance
By buying life insurance on yourself, you leave a financial resource for those who survive you if you die. When the insured person dies, the money in a life insurance policy goes to a beneficiary. The policy can provide that person with help in settling the deceased’s affairs and more.
Even when you are young, that doesn’t mean you are invincible. By getting life insurance, you will have a safety net available for those who come after you.
Benefits of Life Insurance for Twenty-Somethings
If you are still on the fence about getting life insurance, then consider some scenarios that millions of young people encounter every day. Life insurance can provide a great benefit to anyone your age:
- Do you have a dependent?
If you have a spouse or a child, then you likely want to provide for them if something happens to you. By getting life insurance early, you can have a cushion in place for them from the get-go.
- Does someone depend on you financially?
Maybe you have a parent who is sick. Or, you might take care of a younger sibling who has a disability. If something were to happen to you, what would this person do? With life insurance, you have the option to leave the money to them directly, or you might place the money in a trust. With a trust, the money has rules for when your beneficiaries can use it. Therefore, it can go towards this person's care.
- Do you have debt?
You might have a car loan, student loans, or even the credit card debt that many young people take a few years to reduce. If these remain when you die, your life insurance can help your survivors settle these debts. This is especially true if someone has co-signed on a loan for you.
- Do you want to save money on your premiums?
When you are young, your chances of dying are often lower than someone who is middle-aged. So, your risk is low to the insurance company. As a result, you are often able to get a more affordable premium. You can often lock in the premium over the lifetime of the policy, which is a great cost benefit.
Instead of waiting to get life insurance, think about the advantages of getting covered while young. It can really give you and your loved ones peace of mind.
Tips to Handle Stress!
Stress may lead to many health problems such as depression, heart disease, anxiety, high blood pressure, or even stroke. Here are some ways to de-stress and keep yourself healthy, according to the American Heart Association!
Make a list. Making a list of the things you need to prioritize throughout the day may help you feel less overwhelmed. Try making a list of the things you must get done and check them off as you go! This way, you feel accomplished crossing things off the list and won't feel so buried in work. Lists can also help you break down bigger problems, so you don't tackle everything at one time.
Exercise. Exercising is a great way to reduce stress. Go for a walk, run or anything try active to clear your mind, and help relieve some of that pent-up stress!
Relax. Try taking a few deep breaths and count to 10 to help your body relax a bit. Take some time to do these things before you react to a situation. And if something is not an urgent matter, respond to the situation the next day so you do not feel overwhelmed.
Get some sleep. Sleep can make you feel more productive throughout the day and help you tackle that list of priorities you made. Aim for 7-9 hours of sleep each night and wake up ready to take on the day!
Tips to Stay Safe This Summer!
Want to avoid summer accidents that you could be liable for? Check out these tips on how to be safe around pools, trampolines and ATV/Motorcycles:
- Pools: We all love sitting by the pool and relaxing. But it is important to be safe around them to avoid any accidents. Be sure to keep constant supervision on younger swimmers and have them wear the proper floatation gear if they are not tall enough to reach the bottom. Clear out any extra pool toys that nobody is using so nobody trips and falls on them. Lastly, make sure that all other pool equipment like diving boards, slides or ladders are working properly so no major accidents can be caused.
- Trampolines: Trampolines are another fun thing to enjoy during the summer months. But make sure to follow the proper safety when having children on one. Make sure children are always supervised. Having safety netting around the trampoline can reduce the risk of someone falling off and getting hurt. Keeping the springs on the trampoline covered can also help prevent injury. And finally, make sure that nobody is attempting any dangerous stunts on the trampoline.
- ATV/Motorcycle: Now that summer has arrived, there will be a lot more motorcycles and ATVs out. Make sure that all riders are wearing the proper safety gear like helmets, proper clothing to avoid exposed skin, and padding to help reduce the risk of severe injury. On motorcycles, follow all traffic safety laws and avoid injuring yourself or others on the road. Follow all the rules regarding where and what times of the day you are allowed to ride ATVs and avoid any dangerous stunts on ATVs to reduce the risk of anyone getting severely hurt.