Life Insurance for College Students: Why All Undergraduates Should Invest in a Policy


image of a group of college students walking together on campus — life insurance for college studentsClasses are officially in session, which means at this exact moment, students from coast to coast have their heads buried in books, essays and exams whilst on the pursuit toward intellectual enlightenment.

And as assignments and responsibilities begin to pile up, there’s little time for students to think about anything other than their studies. Unfortunately, the swift current of life stops for no one, and the risk of catastrophe is a very real possibility. Are you protected?

Here are three reasons why life insurance for college students is a necessary investment…

1. Reconcile Student Loans

Student loans are one of the few forms of debt that’s particularly difficult to get rid of, even if the loanee files for bankruptcy. Fortunately, if a student passes away before he/she can satisfy his/her debt, the U.S. Department of Education will render the remaining balance null and void; the same cannot be said for personal or private loans taken out from a financial institution. For students who had to pursue additional financial avenues to pay off college, a life insurance policy may help to ensure all remaining debts can be paid off if the student passes away.

2. Support a Family

College isn’t just for those who are fresh out of high school; there are many college students who are married and/or have children. In addition to leaving these individuals their debt upon passing, a family that is suddenly missing one of their patriarchal members will be forced to make ends meet without the financial, emotional and parental support the deceased once provided. A life insurance policy can help to fund some of the struggles that this void will inevitably create.

3. Support Other Dependents

Although we often think of parents as being the rock of stability for a young college student, this isn’t always true. In many cases, a parent’s health may be fragile enough that he/she must depend on his/her child for living assistance. Without a life insurance policy in place to fund the parent’s lifestyle if the child passes away, the parent may find it difficult to pay for care, in addition to having to bury his/her child.

Start Your Life Insurance Journey Today

Do you have questions about how to invest in the right life insurance policy for yourself or a member of your family? Our team of experts is ready to help!

The Mutual Fund Store Life Insurance – Financial Engines specializes in pairing our clients with the most appropriate policy for their price range and geographical region. In this way, you can rest assured knowing that you always receive the best life insurance plan for you. Get started with a free consultation today!

 

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Term Life Insurance products offered through TMFS Insurance Agency LLC, a separate company, affiliated with Financial Engines Advisors L.L.C. (FEA), in states where licensed. TMFS Insurance Agency LLC is under common ownership with FEA. Each entity is its own separate entity that provides services for its client independent from the other.

 

Turning 30? Now May Be the Best Time to Buy Life Insurance.


image of a two adults with their daughterIt finally happened. Despite all attempts to stop the natural passing of time, you have officially hit the next age milestone in your life, and there’s no turning back.

You’re 30 … and that’s okay.

For many, this can be a time of exciting possibilities. For some, it’s when life really starts to hit its stride. All the hard work you’ve put in over the last three decades could start to come together and the future may look brighter.

So, with the best parts of your life potentially still left ahead of you, why is now a good time to buy life insurance?

Many Potential Milestones In Your 30s.

The third decade of a person’s life is filled with numerous, impactful developments that can provide the foundation for what may become the rest of a person’s life.

Many people begin to tap into their full professional potential during their 30s. This decade is also a common time to get married. Major purchases, such as a new car or a first home, could be made. Children may be born – and those children will begin school and embark on a milestone journey of their own.

So much happens during this exciting chapter of life.

Now imagine if you – your physical presence, your emotional support, and your income – were suddenly taken out of the equation. How would your family continue without you? How would they cope? How would the bills get paid? How would they survive?

If you haven’t arranged for your family to carry on if you’re suddenly unable to be present, there’s no time like the present to start planning.

Why 30 May Be the Best Time to Buy Life Insurance.

Despite how busy you may be with the milestones listed above, there are several reasons why it can be useful to carve out time to explore a life insurance policy in your 30s.

1. You’re in Good Health

If you’re in your 30s, you’re likely still reaping the physical benefits of youth. If you are one of these lucky 30-somethings, you may be more likely to ace your life insurance medical examination, which means your monthly life insurance rates will be lower for the foreseeable future.

2. Protect Your Family

You are not alone if your family is the most important aspect of your life. As we discussed above, knowing your spouse, children and even your pets are taken care of if you pass away is important. Don’t rely on your savings alone to cover costs if you pass away. A life insurance policy is what your family deserves.

3. Protect Your Investments

People say that the only things certain in life are death and taxes, and unfortunately, once you pass away, the taxes you owe don’t disappear. That beautiful home and expensive car you purchased – if not already paid off – can haunt your family’s finances for decades to come if they don’t have a way to relieve your debt. A life insurance policy helps to keep your spouse from fronting a bill he/she may not be able to afford.

Buy Life Insurance Today.

Life is fleeting – It’s impossible to know when your time here is up. But as long as you’re alive, you have a chance to help protect your loved ones from financial struggles once you’re gone.

The team at The Mutual Fund Store Life Insurance is ready to answer your questions and help pair you with the right life insurance policy for your needs.

Reach out today for your complimentary consultation.

 

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Term Life Insurance products offered through TMFS Insurance Agency LLC, a separate company, affiliated with Financial Engines Advisors L.L.C. (FEA), in states where licensed. TMFS Insurance Agency, LLC is under common ownership with FEA. Each entity is its own separate entity that provides services for its client independent from the other.

 

Top Three Inherent Risks of Refusing to Buy Life Insurance


image of a deceased person with an "uninsured" toe tagTo anyone who has been visiting our website over these many fantastic years, you have undoubtedly learned about the abundant reasons you should invest in a life insurance policy.

So by now, you have already consulted with our team to find the best life insurance policy for you, right? Right?

If you have, great! You’ve taken a very valuable step to ensure the financial security of your loved ones if something bad happens to you. If you haven’t, however, why? What are your reservations? Do these apprehensions outweigh the benefits?

To help you make a final decision as to whether a life insurance policy is right for you or not, we’re diving into the top three inherent risks that come along with refusing to buy life insurance. Let’s get started…

Risks of Refusing to Buy Life Insurance

1. You Miss Out on Benefits That Greatly Outweigh the Cost

Here at The Mutual Fund Store Life Insurance – Financial Engines, Term Life Insurance is easily our favorite insurance option to recommend. Why? Because its flexible, efficient, and above all else, it’s affordable. Term Life Insurance is designed to fulfill your specific needs – nothing more and nothing less, making it the best policy for your life and your wallet.

2.You Miss Out on Partaking in Benefits While You’re Still Alive

You wouldn’t be off base if you believed life insurance was only useful if you were no longer on this earth; this is its main purpose, after all. That said, life insurance can also provide some benefits to you while you’re still living. Unlike Term Life Insurance policies, Whole Life Insurance exists to do exactly as the name implies – protect you your entire life. Although this policy usually comes with higher premiums, Whole Life Insurance policies have the power to accumulate cash value on a tax-deferred basis.

3. What About Your Family?

Sure, the conversation always comes back to this specific topic, but it may be the single most important risk of refusing to buy life insurance: What happens to your family if you pass away and haven’t invested in a policy to take care of them? Can they afford your funeral? Can they pay the bills? Are the cars at risk of being repossessed, or is the house in danger of foreclosure?

It’s a nightmare scenario, but unfortunately, it’s a very real possibility for families who cannot stay financially afloat once a loved one has died.

Invest in a Life Insurance Policy Today

If you have refused to buy a life insurance policy up until now, don’t hesitate any longer. Life insurance is more attainable than you think. Reach out to our team for a free consultation, and we’ll find the perfect policy for you that fits your needs, budget and offers your family the peace of mind it deserves.

 

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Term Life Insurance products offered through TMFS Insurance Agency LLC, a separate company, affiliated with Financial Engines Advisors, L.L.C. (FEA), in states where licensed. TMFS Insurance Agency, LLC is under common ownership with FEA. Each entity is its own separate entity that provides services for its client independent from the other.