Life Insurance as Analyst in NY

The world is a dangerous place, and New York is no different. I know my parents have sacrificed a ton to put me and my siblings through college and will rely on us to pay off debt. It could be disastrous in many ways if I were to die early, like within the next decade.

Should I consider a term life insurance policy for them?


Considering a term life insurance policy can be a prudent decision, especially if you're concerned about the financial security of your family in the event of your untimely demise. Here’s why it might be a good idea:

  1. Financial Security for Your Family: Term life insurance can provide a significant financial payout to your beneficiaries (in this case, your parents) if something were to happen to you. This can be instrumental in helping them pay off debts or maintain their lifestyle.

  2. Affordability: Term life insurance is generally more affordable than whole life insurance, making it a cost-effective option for young professionals. You can choose a term that covers your most financially vulnerable years.

  3. Simplicity and Flexibility: Term life policies are straightforward. You pay a premium for a policy that lasts a specific period, typically 10, 20, or 30 years. You can align the term length with your needs, such as the duration of your parents' debt or your siblings' education period.

  4. Peace of Mind: Knowing that your parents won't be financially burdened in case of your absence can give you peace of mind, which is invaluable.

It's also wise to consider your current health, lifestyle, and financial obligations when deciding on the amount of coverage. Consulting with a financial advisor to discuss your specific situation and needs can further aid in making an informed decision.

Sources:, Supporting Your Poor Parents, The Last "what should I do with my money?" Thread (hopefully),, Working in FIG (Financial Institutions Group) - An Overview.

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Why not? Because you're still young, the insurance will be cheap. It's worth the $20 a month if it helps you sleep better at night knowing your family is taken care of. 


Would 100% get one if your fam would be in debt(from tuition payments) if you were to pass. Assuming you work in high finance, its not difficult to budget 100-300 a month for a term life policy. It'll be cheaper if you dont smoke or have a medical history obv (pref non-smoker) but if you do smoke or have med. hist. then it moreso behooves you to get a polilcy. Would check to see if you can get a conversion rider though, it'll save you alot on your next policy. work in FP&A/PWM so feel free to dm with questions


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