MONEY TALKS

QUESTION: I just graduated from college and recently started working. I was thinking of buying insurance for myself but I’m not sure if I really need it since I’m not a breadwinner. Should I get insurance this early? What are the pros and cons of getting insurance at an early age?

Insurance is the last thing we would think of buying when probably we think about getting that expensive cell phone or our own car or house. For sure, 99% of us will not have insurance on our minds.

Insurance is a key component - nancial security. There will come a point in everyone’s lives where one will need insurance. But when is the perfect time to get it? Well, here are some advantages of buying insurance at an early age.

A head start, for one. I got my time I was single and not really a breadwinner. I got married by the time I turned 30 and a year after I became a father. At this point I only had one insurance policy with a coverage of P1 for someone with a family. This was when I regretted not getting insurance at an earlier age -- the become smaller. I also would have had more choices. The reality, let’s face it, is that milk and diapers – not insurance – become the priority when we start a family.

Reason two for early purchase: you are healthy and insurable. Health is always a key factor in determining whether one is insurable or not. Health also is considered when calculating the cost of premiums. We are all generally healthier at a younger age and the younger and healthier we are, the lower the premiums. Take advantage of this. I’ve seen far too many people regret not getting insurance at an early age and my hope that you don’t make the same mistake.

Lastly, you’ll have peace of mind. Unlike other purchases that give short- term satisfaction, insurance is a product that gives you long- term security. need it right now but because you want to know that it is available when needed. It is a product that gives you peace of mind. The fact that you are thinking about getting it at an early age is a good thing.