When I think of life insurance, I think of a family man working to pay the mortgage and the bills with his wife at home. I don’t think of me – a twenty-something with no dependents – as someone who needs life insurance.
One of my benefits at work is a pretty good life insurance policy, at least as far as I’m concerned.
So who is the rightful beneficiary on my life insurance policy? My parents. What better way is there to thank them for raising me than giving back a good portion of the costs they spent if I was to die in a freak accident?
Some companies allow you to see a slightly larger paycheck for reducing your life insurance policy. My company doesn’t offer that option, however, that could be a good option for you.