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I'm Planning On Getting Life Insurance Through State Farm. I'm 18. Is This Plan Good?

Funeral Insurance, Term Insurance and Burial Insurance

I'm Planning On Getting Life Insurance Through State Farm. I'm 18. Is This Plan Good?

Postby Selwyn » Mon Sep 25, 2017 4:24 am

It's not unreasonable, but consider this:

1) Do you have loved ones who depend on you financially? If yes, then this is a good policy to pick up now.


2) Do you have $25,000 of debt that needs to be covered in the event of your untimely death, other than funeral expenses? If not, then you can simply squirrel away money into a savings account to cover this, and later convert it over to a pre-planned funeral arrangement.


3) Do you expect that you will die within the next 10 years? If yes, then this coverage could be useful. If not, then more than likely within the next 10 years you can obtain a job with affordable rates and similar or better coverage.
Selwyn
 
Posts: 47
Joined: Wed Jan 22, 2014 7:43 pm

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