Here’s the type of insurance you’ll need at each stage of life, experts say

Here’s the type of insurance you’ll need at each stage of life, experts say

What type of insurance should you have at different stages of your life? When asked, financial advisors pointed to disability and life insurance as most important kind of coverage at any stage, as they apply throughout our lives. In addition, advisors discussed often overlooked considerations for different points in your adult life. Here's a look at some age-specific insurance advice, from your days at university to your golden years of retirement. College days  "If you take out a private student loan … and that loan is co-signed by a parent and is not discharged upon your death, then you need some life insurance to cover the loan," said certified financial planner David J. Haas, owner of Cereus Financial in Franklin Lakes, New Jersey. Because the need is temporary, for the life of the loan only, term life would be appropriate, he said. On the job "If you are working, you almost certainly need disability insurance," said Sean M. Pearson, CFP, associate vice president with Ameriprise Financial in Conshohocken, Pennsylvania. "Most large employers offer it as a benefit, but that does not mean that you have enough." It's important to understand your coverage, he said. Plans may cover total disability,