5 Legit Reasons To Get Insurance While You’re In Your 20s
The first thing that comes to mind when we think of insurance is how tedious the process can be. Loads of paperwork and money involved = headaches; and that's enough to bump insurance to the bottom of our priority list. Young adults are also often in good shape and are less prone to sickness, cementing its low ranking on their list.
More often than not, we have doting parents that continue to support and provide, so getting our own insurance doesn't seem necessary. But in an attempt to be absolutely independent *cue Destiny Child's Independent Women*, we need to start looking into insurance and how important it is.
According to the experts at iMoney, we should all strive to get life and health insurance before we turn 25. That's now, right?
We've listed some reasons why you should totally get on this bandwagon. It's better to be safe than sorry!
Don’t let the insurance waiting period affect when you can claim for bills
With all insurance, there is a waiting period that applies to all insurance policies no matter the age. The waiting period refers to the period stated in your policy which must pass before some or all of your health/medical coverage can begin.
Thus, it always works to your benefit the earlier you sign up for insurance because in case of any emergencies, you would have passed the waiting period and can qualify for immediate benefits.
The waiting period for some policies can be as long as 90 days while others can be up to two years which would not be ideal especially if you are diagnosed with an illness which will involve expensive treatment within the waiting period.