Why you need insurance before 25!

So I’m sure many of us have seen those annoying ads on YouTube mostly, aiming at new mum’s who are twenty five or over to get life insurance and you’re probably thinking, if you’re anything like myself this is not the ad for me and then you quite abruptly skip the video to get on with your morning yoga for beginners.

Little did I know although, I am currently not a parent yet, how true that message was!

It was literally three month ago when I learnt I had just made it when it comes to securing my life insurance, income insurance, home insurance and believe it or not my future children’s insurance. This all came about once I decided I had, had enough of renting and needed to be to get on the property ladder.

Now to be fair, it was nerve racking to go through this whole process of finding a home within my affordability and in the right location with the right mortgage and so forth.But I am so glad I made this decision at 25 years old and here’s why.

I would of never ever thought to even think about my life insurance until I decided when I wanted to have my child which for me meant I could push it back because I still have time on my hands, and I quiet like the idea of being a maturer mother, so for me life insurance wasn’t at all a focus for me before I was advised to get it.

If I am honest I always thought this stuff was for older people and it wasn’t until I was going through my options with my advisor that it dawned on me, I must not be the only one who didn’t know that the younger you are the cheaper life insurance is and I mean super duper affordable, to the point where it wouldn’t even effect your lifestyle in the slightest!

Now, I am 25 and that’s still young but not when you compare your mortgage monthly fee to say someone who is 22 years old. The difference is there but not has noticeable as someone who is in their 30’s or 40’s that’s when it would immensely effect your finances and there’s not much you can do about the expense.

So let me give you and example of figures, for me and my husband we’re both in our 20’s and share the cost of our insurance so we in total we pay £80 for the premium cover! Which literally covers us in all ways you can imagine and the best part about it, is that it remains at the price the plan was taken out on.

Whereas, if you are 35 years old you are at more risk of having health related issue and so are seen as high risk because you are more likely in the eyes of the insurer to make a claim and so they use this as leverage and increase people in their 30’s and above fees significantly higher unfortunately and I am talking about hundreds more than what I pay!

So now you can see, the time is now to get yourself insured, save the hassle of waiting until something happens to your health, your partner, your child or your source of income.

And keep the cost down. There is no reason for this to become a liability to you when you can get yourself insured with a certified insurer and seek help from professional advisor’s much like the mortgage advice bureau who will do all the research for you and answer any questions you may have.

Its important so don’t leave it to late. Remember, I just made it at the age of 25! And I want you to so as well.

Written by Elisha Chanté October 4th 2021