-a young couple, both killed in a freak accident when a bridge collapsed;
-a young mother killed by a brain aneurysm, just months after giving birth to twins;
-another mother killed, trying to protect her disabled son from being hit by a car.
Sure, once you are older it is generally true that there are more risks associated with your health. But young people also tend to have fewer assets than older ones. That means there are no extra resources to draw on if, all of a sudden, a regular source of income is gone.
Don’t save now, only to pay a lot more later
Anyone who has purchased a home has probably been there. You start out by setting a budget, but then you find the perfect house that is just a little bit beyond. You can’t say “no” to your dream for only $10,000 or $20,000.
Then, you find out that property taxes are higher than you expected, and that’s only the beginning. By the time you get to the point of finalizing your mortgage, you’re more than a little nervous about the new financial commitment you’re about to take on.
It’s only natural to want to avoid unnecessary costs at a time like this. But insurance is not “unnecessary”- especially in a situation where you feel like you’ll be financially stretched. If you’re going to have to work hard to make ends meet now, what would happen if one of the family breadwinners were to die or become disabled? How would you continue to meet the mortgage payments with only one income, or with none?
Your family’s dream home could be that again- just a dream.