May 2nd is National Life Insurance Day, and a great time to look a little closer at something that’s been around for over 250 years in the United States. Many people tend to think of life insurance as something to contemplate later in life — if at all. While they’re often still just starting out in life, students are often focused on affording school more than anything else. However, that may mean they’re failing to take into account some responsibilities to their loved ones.
Student Loans and Education Expenses
The average student graduating with a Bachelor’s degree does so with $25,000 in student loans. That doesn’t really capture the whole picture, though, does it? Some parents pull out their own loans or stop putting money away from their retirement in order to put a kid through college. More and more, they’re having to make decisions that might leave them in a vulnerable place if they’re left on their own in the coming years.
While some loans that are given directly to students may be forgiven after their passing, that’s not always the case and it may not be enough for those they leave behind. Life insurance can help bridge the gap after a devastating loss.
Students with Families
Around seven percent of college students either start school married or get married while attending. While that may seem like a relatively small percentage, it translates into millions of couples. Some are going back for degrees years later to improve their family’s income. Others are young married couples just starting out in life.
In relationships, having life insurance protects each person from being hit with financial hardship on top of the devastation on losing a spouse. It can mean the difference between having a tragedy completely derail your life plans and having financial support to lean on until you’re ready to keep moving forward.
This applies even more for students with children of their own, as well.
Getting the Protection of Life Insurance without the Price Tag
The last thing most stents need to hear is that they have to pay for yet another thing when they head off to school. The good news is that they can get protection for their loved ones without paying a dime extra. Avibra is an app that helps you turn your good habits into life insurance coverage. You get the peace of mind you need to fearlessly tackle this stage of life.urn your good habits into financial protection for you and your loved ones.