4 Insurances You Should Consider in Your 20s
Becoming an adult means planning for the future, taking responsibility for your wellbeing, and providing for a spouse and children if that situation applies. Insurance is one of the best ways to accomplish those goals and there 4 types to consider. There are dozens of ways life can take an unexpected turn. It can leave you without the ability to work, requiring long-term hospitalization or treatment, or even lead to your untimely demise.
Renter
Most young adults will find themselves renting an apartment and a renter’s insurance policy is essential to preserve your possessions. Your landlord will have insurance on the rental property to cover his/her losses, but it won’t pay for yours.
An increasing number of young adults are working at home through the gig economy and side hustles. Without renter’s insurance, your personal possessions and equipment, such as computers and printers, could be destroyed and eliminate your ability to earn.
Health
No one knows when an injury or illness will arise and result in catastrophic medical bills that can leave your financial health in ruins. Medical insurance will pay a significant portion of medical bills and any needed on-going treatment. Your out-of-pocket expenses will be reduced. Exorbitant medical bills are the No. 1 cause of bankruptcy.
Disability
Life is unpredictable and you never know when a car crash, work-related accident, or even a leisure time pursuit could render you unable to work and earn a living. An injury could result in the need for long-term treatment and disability payments through Social Security aren’t enough to live on.
Life
A life insurance policy can pay for your funeral and final expenses, support a spouse and children, cover other financial responsibilities, or support charitable giving. Another advantage of a life insurance policy is that it will be significantly less expensive if purchased in your 20s.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487
