4 Reasons You’re Not Too Young for Life Insurance

4 Reasons You’re Not Too Young for Life Insurance

Good coverage is important at any age.

Illustration of two people looking at lots of paperwork like loans and insurance.

As a young adult, life insurance is rarely at the top of your list of priorities. As you navigate milestones like buying your first home, getting married and shopping for your first new car, life insurance coverage can seem like it won’t be needed for decades.

But just because you’re young and healthy doesn’t mean life insurance isn’t important. Here are four reasons to consider coverage now.

1. Student loans can mean serious debt

Many people pick up debt before they even start earning money. The average college graduate owes $17,126 on a student loan.* If somebody co-signed on your student loan and you pass away, that co-signer may be responsible for the debt. Life insurance can help you protect the co-signer.

2. It’s not as expensive as you may think

Four in 10 young people think life insurance costs more than f­ive times its actual price.**

3. You can’t take employer coverage with you

Employer-provided life insurance often is not transferable when you move from one job to the next. The average person changes jobs four times in their f­irst 10 years out of college.***

4. Start now and save

Young and healthy people can lock in lower rates on a life insurance policy. Typically, the younger you are, the less expensive it will be to obtain important coverage.

* “Student Loan Debt Per Graduate by School by State 2017”, The Student Loan Report
** “2017 Insurance Barometer Study,” LIMRA
*** LinkedIn Economic Graph Report, 2016

AAA Life and its agents do not provide legal, tax or financial advice. Please consult your professional advisor prior to the purchase of any policy or contract. AAA Life Insurance Company is licensed in all states except NY. Life Insurance underwritten by our affiliate, AAA Life Insurance Company, Livonia, MI. Products and features may vary by state. ALMI-24890-518-XX

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4 Reasons You’re Not Too Young for Life Insurance