It’s no surprise that studies show young adults are not into insurance. There are too many other financial challenges to worry about, such as paying off crushing student loan debt and saving for future goals. Actually, other studies show that younger adults would rather spend their money on such things as travel and premium TV streaming services than use it to buy life insurance. Most are quick to spend $120 a year to insure an $800 cell phone, but, very few would consider spending a few dollars more each year to insure their lives.
Why should you concern yourself with life insurance? You're still young and relatively healthy. What do you have to protect? The fact is the decision not to buy life insurance when you are young and healthy can be a very expensive mistake. Here are five reasons why: