{"id":1476,"date":"2017-07-05T14:56:23","date_gmt":"2017-07-05T18:56:23","guid":{"rendered":"https:\/\/lifehappens.org\/?p=1476"},"modified":"2020-04-09T10:42:36","modified_gmt":"2020-04-09T14:42:36","slug":"5-things-millennials-need-to-know-about-life-insurance","status":"publish","type":"post","link":"https:\/\/lifehappens.org\/blog\/5-things-millennials-need-to-know-about-life-insurance\/","title":{"rendered":"5 Things Millennials Need to Know About Life Insurance"},"content":{"rendered":"\n\n[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;3.27.4&#8243;][et_pb_row _builder_version=&#8221;3.27.4&#8243;][et_pb_column _builder_version=&#8221;3.27.4&#8243; type=&#8221;4_4&#8243;][et_pb_text _builder_version=&#8221;3.27.4&#8243; hover_enabled=&#8221;0&#8243;]<p>Being catapulted into the adult world is a shock to the system, regardless of how prepared you think you are. And these days, it\u2019s more complicated than ever, with internet access and mobile devices being must-have utilities and navigating tax forms when they aren\u2019t as \u201cEZ\u201d as they used to be.<\/p>\n<p>Maybe you\u2019re still living with your folks while you get established. Or maybe you\u2019re looking forward to moving out of a rental and into a house or to tie the knot. <a href=\"http:\/\/www.lifehappens.org\/insurance-overview\/life-insurance\/\" target=\"_blank\" rel=\"noopener noreferrer\">Life insurance <\/a>might be the last thing on your list of things to deal with or even think about. (You\u2019re not alone.) But here are five things you might not know about life insurance\u2014that you probably should.<\/p>\n<p><strong>1. Life insurance is a form of protection.<\/strong> If you Google \u201clife insurance\u201d you\u2019ll get a slew of ads telling you how cheap life insurance can be, without nearly enough information about what you need it for. That\u2019s probably because it\u2019s not terribly pleasant to think about: this idea that we could die and someone we care about might suffer financially as a result. Life insurance provides a financial buffer for the people you care about in the event something happens to you. Think just because you\u2019re single, nobody would be left in the lurch? Read the next point.<\/p>\n<p><strong>2. College debt may not go away.<\/strong> Did someone\u2014like your parents\u2014co-sign your student loans through the bank? If so, the bank won\u2019t discharge that debt upon your death the way that the federal government would with federal student loans. That means your parents, or others who signed the paperwork, would be responsible for paying the full balance\u2014sometimes immediately. Don\u2019t saddle them with the bill!<\/p>\n<p><strong>3. If you don\u2019t know anything about life insurance, it&#8217;s probably better if you don\u2019t buy it off the internet.<\/strong> It\u2019s what we\u2019re used to: You find the thing you need or love on Amazon or Ebay or Etsy, click a few buttons, and POOF. It arrives at your door. But life insurance is a financial planning product, and while it can be as simple as a <a href=\"http:\/\/www.lifehappens.org\/insurance-overview\/life-insurance\/life-insurance-options\/\" target=\"_blank\" rel=\"noopener noreferrer\">20-year term policy<\/a> for less than a cup of coffee each day (for real!), going through your options with an insurance professional can ensure that you get the right amount for the right amount of time and at a price that fits into your budget. And many people don\u2019t know that an agent will sit down and help you out at no cost.<\/p>\n<p><strong>4. Social fundraising only goes so far.<\/strong> This relatively recent phenomenon has everyone thinking that they\u2019ll just turn to GoFundMe if things go awry in their lives. But does any grieving person want to spend time administering a social fundraising site? The chances of going viral are markedly slim, and social fundraising sites will take their cut, as will the IRS. And there is absolutely no guarantee about how much\u2014if any\u2014money will be raised.<\/p>\n<p><strong>5. The best time is now.<\/strong> You\u2019ll definitely never be younger than you are today, and for most of us, the younger we are the healthier we are. Those are two of the most important factors for getting affordable life insurance coverage. So don\u2019t delay. And if you don\u2019t have an agent, you can also use our <a href=\"http:\/\/www.lifehappens.org\/find-insurance-coverage\/#agent\" target=\"_blank\" rel=\"noopener noreferrer\">Agent Locator<\/a>. The key is taking that first step.<\/p>\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n\n","protected":false},"excerpt":{"rendered":"<p>Being catapulted into the adult world is a shock to the system, regardless of how prepared you think you are. And these days, it\u2019s more complicated than ever, with internet access and mobile devices being must-have utilities and navigating tax forms when they aren\u2019t as \u201cEZ\u201d as they used to be. Maybe you\u2019re still living [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":1477,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"2880","footnotes":""},"categories":[4],"tags":[14,128,20],"class_list":["post-1476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-insurance","tag-life-insurance","tag-millennials","tag-term-life-insurance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Things Millennials Need to Know About Life Insurance &#8211; Life Happens<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lifehappens.org\/blog\/5-things-millennials-need-to-know-about-life-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Things Millennials Need to Know About Life Insurance\" \/>\n<meta property=\"og:description\" content=\"[et_pb_fullwidth_module_placeholder selected_tabs=&quot;all&quot;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lifehappens.org\/blog\/5-things-millennials-need-to-know-about-life-insurance\/\" \/>\n<meta property=\"og:site_name\" content=\"Life Happens\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/lifehappens.org\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-05T18:56:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-09T14:42:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/millennials-toasting.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"725\" \/>\n\t<meta property=\"og:image:height\" content=\"483\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Helen Mosher\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@lifehappens\" \/>\n<meta name=\"twitter:site\" content=\"@lifehappens\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Helen Mosher\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-millennials-need-to-know-about-life-insurance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-millennials-need-to-know-about-life-insurance\/\"},\"author\":{\"name\":\"Helen Mosher\",\"@id\":\"https:\/\/lifehappens.org\/#\/schema\/person\/7c7486e6f86d86fdae3732fd8d6e5463\"},\"headline\":\"5 Things Millennials Need to Know About Life Insurance\",\"datePublished\":\"2017-07-05T18:56:23+00:00\",\"dateModified\":\"2020-04-09T14:42:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-millennials-need-to-know-about-life-insurance\/\"},\"wordCount\":619,\"publisher\":{\"@id\":\"https:\/\/lifehappens.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-millennials-need-to-know-about-life-insurance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/millennials-toasting.jpg\",\"keywords\":[\"life insurance\",\"Millennials\",\"term life insurance\"],\"articleSection\":[\"Life Insurance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-millennials-need-to-know-about-life-insurance\/\",\"url\":\"https:\/\/lifehappens.org\/blog\/5-things-millennials-need-to-know-about-life-insurance\/\",\"name\":\"5 Things Millennials Need to Know About Life Insurance &#8211; 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