Financial advisor Darcy Bergen draws from tremendous experience. For over two decades, he has advised clients of all stripes as a financial planner. He started Bergen Financial Group in 2003. Midland National’s annuity division has recognized him as a top20 advisor in sales repeatedly. In 2015, Darcy Bergen became a fiduciary, which requires a series 65 license. Darcy Bergen has weighed in that people in their 20s and 30s should think about getting life insurance. It’s good to know that you and your loved ones are covered if the unspeakable happens.
- Life insurance is an obvious choice for those with children. But Darcy Bergen says that even if you are childless, you might have dependents. It might be a spouse or long-term significant other. Sometimes a person’s parents could be considered dependents if they’re not in good financial shape. If you passed away suddenly, would these people be able to live in comfort? A solid life insurance policy could cover the lost earnings.
- Life insurance companies do plenty of analysis and know younger people are lower-risk. Someone in their 20s or 30s has a good chance of getting an affordable policy. Darcy Bergen points out this is especially true if you don’t smoke or have no pre-existing conditions.
- Darcy Bergen draws attention to the fact that many young people are in a significant amount of debt. This is especially true for those who attended college. If your parents cosigned for your student loans, they’re still on the hook if you passed away. This goes for other types of debt, such as credit cards and car loans. Some people even have personal loans that their parents might be obligated to pay back. Darcy Bergen comments that a solid life insurance policy can cover all of this
- Funerals are expensive and can easily cost five figures. Your family will probably have to cover the expense. Darcy Bergen indicates that even a tiny life insurance policy can cover the amount.
- Sometimes you might want to supplement your employer’s life insurance. Darcy Bergen points out that some generous employers offer life insurance to employees. However, they might not be enough to cover everything. Contact human resources and see what is included.
Darcy Bergen is a financial advisor who has seen a lot of scenarios. He says those in their 20s and 30s should consider life insurance. You want to know that you and your loved ones are covered if the unspeakable happens.
Investment advisory and financial planning services offered through Simplicity Wealth, LLC, a Registered Investment Advisor. Sub-advisory services are provided by Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting and Education services offered through Bergen Financial Group. Bergen Financial Group is a separate and unaffiliated entity from Simplicity Wealth and Advisory Alpha.