4 Reasons You’re Not Too Young for Life Insurance
Good coverage is important at any age.
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.