A New York Times article written in March of 2008 references a very common set of insurance policies known as the “What-If” plan.  Life insurance and Long -term Disability are two insurance policies that far too many people procrastinate on purchasing and then forget about, especially young adults.  Most individuals interested in purchasing these “worst case scenario” policies wait until either something very bad has happened to either themselves, a family member or a close friend.  These individuals do not realize is the longer they wait (increasing the age of purchase) to purchase Life and Disability insurance the higher the yearly premium is going to be.  With a little foresight, purchasing ”What-If” insurance earlier in life can save thousands of dollars in the long run.

A very good resource for information on Life and Disability insurance is the www.LifeExchange.org. If you are in the beginning stages of shopping for either Life or Disability I would visit LifeExchange.  There are many testimonials describing the various products available and how they have been used.  The site is geared towards agents but is certainly worth the time for a consumer.

For your own, your family or your future family’s sake, plan ahead.  Take advantage of the rates available at younger ages.  Because you never know when you or your spouse may be afflicted with an ailment that makes you uninsurable.  From experience, its better to purchase a policy and cancel it then find out down the road you need a policy and are no longer insurable health wise or able to afford it.

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Thank you,

Ryan H.

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