Let us guess: you kind of thought about getting life insurance. Well, I guess I’ll have to do that someday. This way, you can take care of your loved ones even if something bad happens. Thanks to your thoughtfulness and smart decisions, they will be more financially stable and will not be stressed out about paying bills without you.
But you didn’t understand about it. You think it will be cumbersome and you really don’t need another bill to pay.
Are we getting warm? Okay, but what if I say it’s surprisingly easy and cheap to check on the list?
Let’s start with the basics. Life insurance may be cheaper than you think. In general, people overestimate the cost of life insurance. For example, according to a study by the insurance industry group LIMRA, nearly half of millennials believe that life insurance costs are about five times the actual cost.
Meanwhile, companies like Bestow offer periodic life insurance premiums starting at $16 per month.
No waiting, no medical examination
Here’s another one. It’s not a hassle you think.
Historically, the process of getting life insurance can take several weeks. You can go to the doctor’s office to have a physical and blood test, and then ask them to organize and return the results and other documents.
But new companies like Bestow are changing the game. Instead of a medical examination, Bestow uses an algorithm to evaluate applicants.
If you are between 18 and 60 years old, you can get a free quote without a medical examination. You don’t even have to get up on the couch. In fact, most of the customers who apply for the Bestow policy do this on their mobile phones. It only takes 5 minutes.
Faster with life insurance
I’ll worry about this later, You are thinking. Perhaps 10 to 15 years from now.
Here is the problem. You won’t be able to get better life insurance than now while staying healthy. You will not be younger than you are now. The younger you are, the lower your premium is generally. So, if you go in early, you can protect your loved ones at the best possible price.
“Regular life insurance is an inexpensive way to start with a new mortgage, a death benefit that can cover you for the most important coming years, including young children,” says Kerri Moriarty, financial business strategist based in Boston.
It only takes a few minutes to get a free quote from Bestow, and once approved, you can get your guarantee today. Now is a good time to start planning for the future. Apply when you are young and healthy to get the best deal.
Mike Brassfield ([email protected]) Is the lead author of The Penny Hoarder. He has life insurance.