Insurance Myths That Young People Should Disregard
As a young person, insurance programs are incredibly cheap if you shop around with the right agent. The issue is that young adults are too stubborn to get insured due to a number of misconceptions about the industry. Below are a few arguments debunking some of the most popular insurance myths.
Myth #1 Life Insurance Is Useless for Young People
Many of us feel on top of the world during our teens and twenties. Planning out post-death finances, let alone premature death itself, is not on the minds of most of us. Those in their twenties need to consider the financial situation of their younger siblings, disabled parents, or their spouses. We are not invincible, premature deaths do happen regularly regardless of age. Since premiums are typically low for a healthy young adult, it would be an ideal time to make the investment in life insurance.
Myth #2 Young people are too healthy to need health insurance
It is true that young adults tend to be healthier with their resilient immune systems and strong bodies. Emergencies do happen, however, and the cost of staying in a hospital could rack up a bill of tens of thousands of dollars. Imagine the emergency room bill going into collections, compounding your cost of living that includes rent and student loan bills. Your 20's is the prime time to get health insurance for such emergency coverage since it is super cheap. The peace of mind is worth it in the long term, Mitigating medical emergency costs will also help you save for retirement and future medical costs as you age.
Myth #3 The government will take care of us if we cannot foot the bill
The sad truth is that the poor receive little to no medical aid in the United States. As mandated by law, anybody may go into the emergency room, receive care and avoid paying the bills. Such a system is a drain on the private medical system, leading to higher overall costs. Certain minimal medical programs are available to extremely low-income individuals, but care is often abysmal. Lowering your quality of life at a young age just to avoid paying medical insurance is just foolish.
Looking for great insurance and don't know where to begin? Contact State Farm Insurance Agent Debbie Aragon for assistance.