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Why Life Insurance Makes Sense

March 13, 2018

The Logic of Life Insurance

Unless you’re some kind of freakishly flawless human being, you’ve probably procrastinated. Whether it’s pulling an all-nighter to finish a term paper that’s due in the morning, waiting until you’re down to that box of expired pasta in the back of the pantry before you drag yourself to the grocery store, or wearing those souvenir socks your mother-in-law brought back from her last vacation to avoid doing laundry for another day, we all do it. We put things off and hope for the best.

Sometimes it works out just fine. Having a deadline close enough to touch can give you a creative edge. But more often than not, waiting doesn’t do anything except increase the chances that we’ll wait too long.

Lima beans and life insurance

Much like the lima beans on your dinner plate when you were a kid, life insurance is one of those things we as adults tend to push around on our (less literal) plates. We know that we’ll probably have to get there eventually, but we keep trying to find reasons why we won’t.

While we’re spending all that time avoiding the truth (that vegetables are good for us and life insurance is important), our lima beans get cold, and our life insurance options could get more expensive. Here’s the thing, though: the peace of mind you’ll feel once your family is protected by life insurance is even sweeter than the dessert you’d finally get after eating your veggies as a kid.

Many people don’t think too much about a life insurance policy until they have children, and while having a baby is an incredibly important milestone, it’s not the only one that should have you considering coverage.

Reasons to consider life insurance (besides that cute and cuddly one)

Long before little feet are pitter-pattering down your hallways (and maybe even before you have hallways of your own), there are many reasons to carry an affordable life insurance policy. Here are just a few.

Student Loans

Student loan repayment is a major source of stress for most of America right now. While adding another expense on top of that might seem counter-intuitive (or downright impossible), consider the fact that if you have any privately funded school loan debt, your parents or other loved ones will be responsible for repaying it if anything should happen to you. We’re not saying you need tons of coverage the moment you borrow money for college, but it’s not a bad idea to look at term life insurance that will cover your student loans and final expenses. The good news? There’s plenty of cheap life insurance for young adults out there. You can probably find the policy you need at this stage of life for less than a dollar a day, so think about that next time you hit the vending machine on your way to English 301.

Buying a Home

More frequently than ever, people have already bought a house before they get married. In fact, last year single women accounted for 18% of first time homebuyers. Owning a home is a fantastic feeling, but with great curb appeal comes great responsibility, and it’s a good idea to have enough life insurance to cover your mortgage if anything unexpected should happen.


Even if you’re not planning to have kids right away (or ever), getting married means counting on each other in new ways. Even if you both have amazing jobs that would allow you to sustain financial independence if you had to, chances are, you’ll adjust to a dual-income lifestyle pretty quickly, and those additional expenses won’t disappear if something happens to one of you. It may not be the most romantic gift, but a life insurance policy that can help replace your income and cover funeral expenses is one of the most important things you can give your spouse.

Locking in a Lower Rate

A quick look at life insurance rates by age may be all it takes to convince you to get covered before your next birthday. The same policy can cost you almost double at age 50 what it does at age 30, and that doesn’t even take into account any potential changes to your health status. Buying life insurance while you’re young and healthy means not only potentially lower premiums, but also more years to enjoy the confidence of knowing the people you love are taken care of…no matter what happens or when it happens.

The Short Answer

If you’re looking for the “elevator pitch” version of why life insurance is important, the article from Forbes sums it up nicely:

“You should buy life insurance when you care deeply for someone or want to make a difference in the world, and your financial resources aren’t able to fill the financial gap if you were to die.”

When you’re ready to find the coverage that’s right for you right now, visit us at Our Life Covered. Our clickable format, thoughtfully curated products, and 30-day free look option make shopping for life insurance fast, easy, and flexible. No matter which milestone brings you to our door, it’s always open.

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