Huntington Disease Lighthouse Families

For HD families ... by HD families
 

Life Insurance

Posted by Martin 
Life Insurance
December 13, 2011 12:04AM
Would you consider getting life insurance when you are young (age 25 and under)?
Re: Life Insurance
December 13, 2011 12:24PM
Yes, if you have people who depend on your income, you should probably get enough to replace that income for several years (example: $500,000 covers $50,000 income for 10 years).

Or even if you don't have spouse/dependents now, you can lock in a lower premium, and not risk being denied a good policy for a reasonable price later due to health issues that could come up (hd or other).
Re: Life Insurance
December 13, 2011 06:08PM
Absolutely, agree with Sarah... hd risk or not, it is best to get life insurance young as you lock in the lower rate and have a plan for future...
Re: Life Insurance
December 14, 2011 08:53PM
deleted by me



Edited 1 time(s). Last edit at 12/15/2011 09:57AM by lauraandpete.
Re: Life Insurance
December 15, 2011 09:35AM
I have to disagree with Pete here. if you are at risk you should get it wether you have dependants or not.
you never know what
the future holds. and youll lock into a lower rate as sarah said. same with long term disability and 25 isnt that young.
thats the age I got all of my isurance into place.
Laura
Re: Life Insurance
December 16, 2011 07:18AM
I’d say buy young so that you can lock in rates, like Sara previously mentioned. The cheap premiums you’ll be paying for now will cover you for comparatively higher death benefits later on. Buying now makes sense because of the difference in rates and underwriting class you’ll receive when you’re forty, managing a family and desperately looking to cover them in case of an eventuality. You can also look up the different types of insurance out there to see if there are more options that interest you, or shop around for a term life insurance quote on aggregator websites. Some policies have a cash value attached to them that allow a forced savings element and park your money in tax deferment for later on. However, most insurance companies strongly suggest that insurance should be bought for the sole purpose of protection in case of income loss and death. You should however review your policy at least once a year to make sure it is still a competitively priced, financially feasible solution for you and your family.


Denise Mancini
Disclaimer: I work for AccuQuote and this is my personal opinion.



Edited 1 time(s). Last edit at 09/13/2013 06:56AM by DeniseMancini.
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