“How do you see yourself five to ten years from now?”
This is one of the most common job interview questions every young professionals will hear from employers. This question is as easy as pie for most of us because our answers will be based on our own vision, aspirations and goals may it be in career or in other areas of our life. And I bet, none of us would answer the following:
“I’ll have a cancer ten years from now.”
“After five years, I would not be able to work because of a car accident.”
“Ten years from now, maybe I’m lying comfortably six feet under the ground.”
Sounds silly, right?
But the point is we are eager to talk about our dreams but never about uncertainties despite the reality that these are the certain things of this world. That is why life insurance is quite a strange idea for some. Who loves to talk about death especially when you are young and free?
I got myself a life insurance policy when I was 22 years old. And I discovered, as young professionals, we are never too young to have life insurance because:
This is not for us; this is for our family.
Whether we are a breadwinner or not, single or married, we need to get one for the benefit of our love ones. This might be something that we cannot enjoy tangibly, but our family will benefit a lot from it. Will they grief for our death or for the burden that we left?
It is not as costly as we think.
Some shy away from the concept of life insurance because they think it as a major expense. But think about this. Your latest gadget won’t give you regular income in the duration of your permanent disability. Your branded clothes won’t replace your income for your family in case something happens to you. It may entail cost but the benefits are worth it.
We will never know when we might need it.
Our employer, through a group insurance policy, insures us during the tenure of our service. However, according to the PwC study, 38% of millennials do not expect to stay at a job for more than nine years. In practice, most of the young professionals of this generation stay at a job for less than three years. We lose our insurance coverage every time we change jobs and we will never know when we might need it.
How do you see yourself five to ten years from now? You are never too young to start thinking about the future. You are never too young for a life insurance.
FinancePH is an advocacy group founded in 2014 by a group of financial advisors.
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