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Purchasing life insurance when young has benefits

Posted On Tue, September 14, 2010

Many people are aware that life insurance offers a death benefit in the event of a the policy holder passing away. However, most also think that such coverage only needs to be purchased when they are married or have a family.

Purchasing life insurance when young and single has its benefits. Younger adults frequently get good life insurance quotes because of their age and generally good health.

Buying life insurance when starting off a career can help set the foundation for building a solid financial foundation for life, notes Colonial Life and Accident Insurance Company director of life products Pam Jenkins.

"Life insurance is an essential part of a sound financial plan," says Jenkins. "Like other financial needs, life insurance needs can vary during different periods in life."

As people get married and start families, they may want to purchase additional life insurance to provide additional coverage to further protect their loved ones. This is certainly an option for policy holders. A life insurance policy purchased early in a person's life can be changed to fit their current situation.

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