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Very few youths in Pembroke Pines, FL think about life insurance. Who thinks of dying anyway? Well, the truth is that no one is too young to buy insurance. When it comes to building a strong financial foundation, buying life insurance makes a lot of sense, especially if you have a young family. Insurance experts at McCormick Insurance Inc. admit that being young has a significant financial advantage when purchasing life insurance.
The younger you are, the less expensive it gets
Insurance companies focus on risk factors when considering a life insurance applicant. They have to establish the likelihood of an applicant’s chances of making a claim at some point where the company will need to pay a death benefit upon their demise. The longer you hold a life insurance policy, the more capital it accumulates. In simple terms, your insurance company wants you to live longer!
The healthier you are, the less expensive it gets
While age is a prime factor, how healthy you are is also a determining factor on whether your life insurance policy will be more expensive or not. In fact, health is more important than age in the insurance world because even young people get sick, which could result in early death. Your insurance company will pay a lot of attention to your medical history as well as any underlying conditions or lifestyle that may be life-threatening like alcohol abuse or smoking. If you have any of these conditions, whether young or not, your insurance premiums may go up to 10 times more than for other healthy individuals.
Buy now and wait, don’t wait and buy
Life insurance for young adults is not a one-size-fits-all type of insurance. There are very many considerations to be done beforehand. You may need to talk to an insurance expert at McCormick Insurance Inc. who will help you narrow down your choices. Feel free to visit us at Pembroke Pines, FL today!