The word “insurance” evolves as you go through the different stages of life. It’s a pretty abstract thought, but when you really think about it, the concept changes depending on our age.
Youth.
When you’re a child, insurance is such a foreign concept that it may be any given thing depending on your home life, your age, and your education. Even once you get to know what it is and why it’s important, you still set it aside as a concept that’s not worth thinking about because it’s for adults.
Teenhood.
Most likely you’ll be thinking of two types of insurance during this stage of your life. At first, you’ll likely know more about health insurance because you’ll realize receptionists at doctor’s or dentist’s offices ask for insurance. But once you’re able to drive, car insurance will be at the forefront of your mind. Whether or not you pay for your own at that point in your life is up to your parents and your own situation, but either way, you’ll know more about car insurance right around the age of 16 than you ever knew before.
Young adulthood.
From 18 to 25, your concept of insurance will vary quite widely depending on how much support your parents give you in life. If they’re still paying the bills up until you graduate college, you may not know any more than you did back when you were 16 and first found out about car insurance. But if you’re on your own with bills and your finances right out of high school, you’ll learn quickly that there are far more types of insurance out there than you imagined.
Adulthood.
By this point, you’re far more worried about your health insurance and life insurance plans because you likely have children at this point. And really, the only reason you’re worried about both is because you want them to be safe and insured. It’s no longer about you at this point but rather your children and spouse.
Senior years.
Now, you may be just as worried about health insurance and life insurance at this point in your life as you were when you first had kids, but there’s other reasons why. Now is when you can start worrying more about you and your spouse rather than your kids. Heck, you may also have dental and eye insurance at the forefront of your mind by this point.
No matter what stage of life you’re in, though, insurance is a staple and there’s a reason for that: it’s extremely important. Without insurance, you’ll be paying more than you would have if something goes terribly wrong.
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