Young parents have recently gone through, or will shortly go through some of life's biggest moments: first child, first home, first big promotion, first sleepless nights contemplating their future and all the “what ifs”. As a father of two, I can assure you I've had plenty of those nights. As many young parents know, kids fall asleep faster when there is a routine. The same peace of mind they have with their routine, you can have as well by having a plan in place to take care of the “what ifs”. Life insurance can play a big part in preparing for uncertainty. Nearly 75% of policies purchased by young parents are term policies, though more and more are looking into universal life insurance.
What about those who have coverage through their employer? Employer-provided group life insurance plans are a great benefit, but are they the right one? If you're healthy, you may be better off getting an individual plan based on you as opposed to the average health of the group. What if you change jobs or your employer no longer offers that benefit? With your own individual plan, you have more control and the added peace of mind.