Arguably the Greatest hockey player ever, Wayne Gretzky said “A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be. ”  The same is true for financial planning, specifically for life insurance.

If you are recently graduated from college and single you are probably like “Meh, I’m a 22 year old single guy.  I don’t need insurance now.”  And you are absolutley correct.  But if you think about it, you probably will need it.

You will probably get married and have kids.  You will probably buy a house.  You will probably save for retirement, and probably won’t have a pension.  If any of these highly probable events come true, then permanent life insurance makes sense for you.

Life insurance pricing has a few components, the biggest being your age and health.  Are you going to get younger or healthier in the future?  Nope.  Since the cash value insurance policy locks in the premiums today based on these factors, wouldn’t it be smart to do so at the best possible rates?

Also, you might agree that you could see yourself needing insurance coverage when you are married and have a house and kids.  If that were to be the case, would it make sense to buy a small policy now that guarantees the right to buy more later when you need it, say to cover things like spouse and kids and mortgage?  That is exactly the reasoning behind my recommendations to young clients like yourself: to plan ahead like Gretzky.  You might not become the Greatest, but it certainly is a smart financial move and will give you lots of room on the ice in the future.