Adulting: Do you really need insurance in your twenties?

You’re in your twenties, but you still feel like you’re not really ready for this adulting thing? Still, that’s no excuse to being irresponsible and risking your future financial freedom by ignoring the need to protect yourself through adequate insurance.


Health Insurance

You’re probably off your parents’ health insurance, so you need to start shopping for your own plan. Not all employers offer health insurance benefits, especially if you’re working part-time or as an intern, but you can still find affordable options as an individual, or even as self-employed entrepreneur. HEALTH PLANS start at $17/month.


Life Insurance

One of the biggest mistakes most young people do regarding their financial protection is ignoring their future needs for life insurance, since they typically don’t yet have dependents or families to take care of. The cost of waiting to purchase life insurance until later can be influenced in the future by higher age, decreasing health, potential of contracting certain illnesses that can even deem them uninsurable. What most fail to realize is that you can lock-in very low rates for life insurance that could stay low for decades or even lifetime, until the need arises when you have a mortgage, children or even dependent elderly parents. Rates start as low as $7/month for $50,000 benefit. 


Cancer and Critical Illness Insurance

Don’t look up what your chances are of getting cancer or a heart attack during your lifetime. Oh, you did? Scary, right? We live in a time when we do expect to live longer due to improved healthcare and advances in science , but we now have more time and chances to contract a debilitating illness like cancer, heart attack or stroke. If that happens, it usually wreaks havoc financially not just health wise. A critical illness insurance plan will pay you a lump sum benefit (from $10,000 to possible $500,000) at first diagnosis of a critical illness like cancer, heart attack, stroke, or many other debilitating illnesses. These plans start at only $15/mo. and offer funds that can be used for any purpose the insured needs, like trying alternative treatments, cover the income lost due to illness, or simply take a vacation while recovering from the illness.


Disability Insurance

What’s your future lifetime income potential? A person earning an average of $50K per year can expect to collect about $2,000,000 in income over a working lifetime before retirement. For most of us, our ability to earn future income is our largest asset.

Many don’t think they can protect their ability to earn an income unless they work for an employer that offers Short-Term Disability and Long-Term Disability insurance. For decades now the INDIVIDUAL Disability Insurance market has developed, many insurers offering INCOME PROTECTION in case you are sick or injured and can’t work full-time in your occupation. Yes, even if you can still work part of the time, or can work in another job but not the one you were working at the time you got sick/injured, you can still get compensated for the portion of lost income due to illness.

Disability insurance policies are designed to protect your specialty, for example a surgeon that injures his thumb to the point of being unable to perform surgery, but can choose to work as a general physician instead, will potentially suffer a loss of income due to the thumb injury and will qualify to receive a supplemental income in the form of a monthly benefit from a disability insurance policy.

Even if you change jobs, an individual Disability Insurance policy moves with you, covering you at the new job or specialty.

If you were offered two similar jobs, one of which does not offer any disability coverage, but the other pays you $1,000 less per year however if you get sick you still receive 65% of income, which job would you take?  So even if your job does not offer disability insurance, it makes sense to get an individual plan and protect yourself in case of job loss due to injuries or illnesses. Disability insurance can cost as low as $18/month.


Long-Term Care and Life coverage for your parents

Yes, YOU can take insurance on your parents, if they’re not educated enough about the need or existence of these financial protection options. As a child of elderly parents, there is an insurable interest and need for protection to cover certain risks like: inheriting an unexpected mortgage that you can’t afford, or taking care of medical expenses for elderly parents. Low rates available – ask our experienced advisors for a quick quote.


Adulting is hard. We can help with some of the responsibilities to protect your future.   or  (239) 466-4466



Leave a Reply

Your email address will not be published.