Why life insurance is good for the young, healthy

Likelihood of accidents makes life insurance necessary

Accidental death insuranceBy Emily Miller

Life insurance is an important financial tool that can secure the financial future of one’s family in the event of a sudden death, especially for families with younger children and/or older dependents.

For people who are in good health or still young, there may be a temptation to put off purchasing a life insurance policy, but this can be risky. Life is filled with unpredictable events, but, fortunately, life insurance can help financially prepare for these events.

According to the Center for Disease Control and Prevention, there are over 120,000 accidental deaths each year in the United States. They also discovered that an average of 29.3 million people visit the hospital each year due to an accidental/unintentional injury.

The National Safety Council recently reported that accidental deaths kill enough people to rank as the No. 1 cause of death for those aged one to 42. Accidents are the fifth-leading cause of death across all age groups, topped only by a spate of illnesses that include heart disease and cancer.

Their report reveals that a vast majority of accidental deaths accord not at the workplace but at home or around the community. In fact, the top five causes typically stem from routine activities.

Top Five Causes:

1. Motor Vehicle Accidents — 42,000

2. Poisoning — 39,000

3. Falls — 25,000

4. Fires — 2,700

5. Choking — 2,500

Given such statistics, investing in life insurance is a wise decision, even for people who are in good health and relatively young. Accidents can strike at any time, and those who are prepared can potentially spare their families from considerable financial difficulties in the coming years.

Life insurance experts generally advise people to carry coverage equal to five to seven times their annual salary, depending on the current market.


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