5 reasons young families need life insurance now. - Irvine Moms


When it comes to money matters, young parents who are just starting out have
a lot to juggle: They may be paying off student debt and saving for their first
home, all while raising kids. But it’s also a time when young families may be
the most financially vulnerable should the unexpected strike. To ensure that
they have financial protection when they need it most, purchasing a life
insurance policy should be top of mind.

Here are five reasons why young families need life insurance:
1. You just never know. While it’s not the most pleasant thing to ponder, an emergency
situation could quickly put your family’s finances under water. In fact, only 44 percent of
Americans have enough savings to cover an unexpected $1,000 expense.  And when you’re
starting out, not having protection in case something happens to a family’s breadwinner is even
2. The earlier you opt in, the more affordable it is. Because age is one of the factors that
affects the cost of your premiums, the younger you are when you purchase a policy, the less
you’ll be paying each year.
3. It may not be as expensive as you think. If you are on a budget and are convinced you
can’t afford life insurance, consider term life insurance. It guarantees protection for a set
amount of time provided premiums are paid when due. Since it’s not designed to last a lifetime,
the annual premiums are considerably lower when you are younger.
4. It lets you concentrate on other goals. Once you have the peace of mind and financial
protection that life insurance grants you, you may feel secure enough to fund long-term goals,
like buying a home, saving for your nest egg, or going back to school.
5. You can always upgrade at a later date. Don’t let the fear of making the wrong decision
deter you from purchasing a policy now. The policy you purchase today isn’t intended to be set
in stone. As your family’s needs change, you have the option of considering other policies.
5 reasons young families
need life insurance now.


¹Karen Bennett, “Survey: Less than half of Americans have savings to cover a $1,000 surprise expense,” Bankrate, January 19, 2022.






We know it’s not easy for young families to make their life insurance needs a priority, given all
their competing financial obligations. However, permanent life insurance is a vehicle for
protection that is not only affordable, but can also help families accumulate cash value and can
ultimately propel them toward reaching both their immediate and far-reaching goals.



This educational, third-party article is provided as a courtesy by Haila Fachinello,
Agent, CA/AR Insurance Lic. #4258142, and Harrison Yoshioka, Agent, CA/AR Insurance
Lic. #4305868, New York Life Insurance Company. To learn more about the information
or topics discussed, please contact Haila Fachinello at (949) 877-2107 or Harrison
Yoshioka at (661) 310-5876.

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