Life Insurance Awareness Month

Week 2: Why You Need Life Insurance in Your 20s & 30s

Life Insurance might feel years, or even decades, away for someone in their 20s or 30s. You might ask yourself, “Do I really need to worry about this yet?” The answer is yes; Life Insurance is still an important policy to consider, no matter what stage of life you’re at.

You’re young, healthy, and probably focused on building a career, paying off student debt, or maybe even getting married. However, life insurance isn’t just for people with kids and mortgages. Whether you’re single, married, or just starting to build a life with someone, there are real advantages when it comes to thinking ahead about life insurance. Life insurance in your 20s and 30s can be a smart and affordable way to prepare for the future.

I’m Young & Single: Is Life Insurance Necessary?

As someone who is young and single, you might think life insurance is unnecessary. You might be at a point in your life where you have no financial dependents, are starting a career, and have student loan debts to pay off. However, there are still key reasons to consider a life insurance policy while you’re young & single.

Lock in coverage: Once approved, your coverage and rate are guaranteed, even if your health changes later. Life is unpredictable, this helps with peace of mind.

Protect loved ones early: Life can change quickly, even when you’re young and single. If you currently have student loans, life insurance provides a safety net for those who may depend on you in the future.

It costs less than coffee: Premiums are based on age and health, so why not lock in lower rates for the life of your policy when you’re healthiest? You could protect your family’s financial future for less than the cost of a single coffee/latte a day.

You’ll never be this young and healthy again, applying for life insurance is about being prepared and making smart financial decisions early. This small monthly investment could help create peace of mind for decades.

I’m Newly Married: Why Does Life Insurance Matter for Me?

Life insurance is about protecting the life you’re building together.  A few items to consider why Life Insurance matters when you’re newly married:

Your partner may rely on your income: If one of you were to pass away unexpectedly, would the other be able to:

  • Pay the rent or mortgage?
  • Cover bills and daily living expenses?
  • Maintain your shared lifestyle?

You’re building a future together: Whether you’re planning to buy a home, start a family, or build wealth – protecting your partner is key. Life insurance helps create a financial safety net to keep those dreams alive, even in the worst-case scenario.

Peace of mind: Knowing that you’ve protected each other financially allows you to focus on your relationship and goals. It’s a loving, practical way to say: “I’ve got your back – no matter what!”

What Kind of Life Insurance Is Best During These Stages?

For most young adults, term life insurance is the best option. It offers simple, affordable coverage that lasts for a specific number of years. The terms can range anywhere from 10, 20, or 30 years. It’s important to choose a term coverage amount that meets your needs. This includes an amount that will cover your debts, replace your income, or protect your future plans.

Next Steps

While life insurance may be an uncomfortable topic, especially at a young age, it’s all about being prepared. With life insurance, you’ll be able to take care of the people you love, whether that’s your immediate family or your spouse or partner. The best time to get life insurance is when you don’t need it urgently; that’s what makes it easy and affordable.

Need help figuring out how much coverage is right for you? Contact Amber Bremer at First State Insurance today to discuss coverage options and policies that best fit your needs. No matter what stage you’re in, First State Insurance is here to offer invaluable guidance and protection during all your life stages.

Click here to learn more about Life Insurance policies from First State Insurance.