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This is the fact that many young adults feel that they do not need life insurance coverage. After all, statistics demonstrate that adults from 18 to 30 years old are far less likely to pass away because of health issues compared to older adults. Plus, young adults are generally more active and healthy overall as they establish themselves in the work force which means they may have less money to spend on life insurance in general.

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However, there are some important reasons why life insurance for young adults is a good idea, particularly if you have dependents or have little in the way of savings to cover the expenses of an unexpected passing.

Why Do Young Adults Need Life Insurance?

The answer is that life insurance for young people should be considered a necessity in most circumstances. This is particularly true for those who may have little in the way of financial support that would cover funeral expenses and the debts that would need to be paid off. However, there are other reasons for getting life insurance young adults can afford.

Inexpensive: Because the risk levels are so low, term life insurance in particular is very inexpensive which makes the monthly premiums easy to fit within a budget. In this manner, a young adult can have exceptional coverage that will not only take care of the necessary expenses, but it also may provide a nest egg for the beneficiary just in case the worst should happen.

College Financing: Did you know that it is easier to get financial assistance for student loans if you have life insurance? When you’re considering how little it costs for life insurance, having it can be a real blessing when it comes to landing the type of loans that will help you get through college.

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Life Insurance for Young Adults:

Getting Life Insurance for Young Adults is Easy

When it comes to getting a proper life insurance policy, where you stand in life really matters since it will help determine the best type to get. When leaving high school and entering college is when young adults are now more on their own and will be in need of having permanent life insurance to cover their expenses in case the unexpected occurs.

Young College Student: At this point, a young person may not have severed the financial ties with their parents, but they have established expenses on their own. This will include the advantage of having life insurance to help secure loans to further their education. Plus, in case the worst should happen, the policy will also provide for funeral expenses and any debts that will need to be covered. At this stage, life insurance of young people is very inexpensive.

Young Fresh Graduate: When graduating from college, having the right life insurance plan is very important as you go out in the world. This is a time when a young person will head out into the world looking for employment or starting their own business. It is at this time when life insurance for young people takes on a greater role as they find their own place to live, purchase a vehicle, build up their savings and acquire more property in their lives. Life insurance will have to be expanded somewhat to cover their additional assets, but overall it is still very inexpensive to purchase at this point.

Young, Single and Unmarried: As the years pass, the life insurance policy may need to grow as well since it may cover more assets such as purchasing a home or running a business. In any case, having proper funeral insurance plan a at the very least will spare members of the family who may be financially burdened with having to pay the burial cost of their loved one in this situation. For young adults who have yet to get a life insurance policy, this is the time to get one before they start rising in premium cost.

Young and Married: There is nothing like building up your own family, but the responsibilities that come with it are certainly formidable. This includes the possibility that an accident or illness may create a tremendous financial burden along with the intense emotional loss and grief. It is here where having life insurance for young parents is so important. The life of your spouse and children will be forever altered by your passing, but they do not have to suffer the financial burden that will be left behind as well. A life insurance policy will not only cover the funeral expenses, but the debt of mortgages and car loans which will provide some relief until the family can get back on its feet again.

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Life Insurance for Young People is Not Always a Waste of Money:

Many believe that life insurance for young adults is throwing away money because they have no dependents. This is far from true as your parents and loved ones will have to pay for the funeral expense which is a burden that young people can relieve them of if they choose to purchase life insurance.

Even a small policy that costs very little per month can cover funeral expenses in a way that will cover the financial burdens that are left behind. This protects your family from having the debt of funeral expenses heaped on top of the grief from your passing. However, there are other reasons why life insurance for young people makes so much sense.

The low rates make it very profitable to purchase and lock in your premiums when you are younger. The longer you wait, the more expensive the insurance will be. So, it makes sense to get covered early and keep that coverage so that you can protect your family today and tomorrow as well. Life insurance is just one example of how doing a little today can really pay off for the future. While middle age may seem like an eternity away, it is really closer than you think so getting the right life insurance policy can really make the difference when planning for tomorrow.


Meet Aaron H., a senior life insurance agent from California with 15+ years of experience. With a major in finance, excellent analytical and communication skills, and a passion for helping clients find personalized solutions, Aaron is a trusted advisor in the industry. He stays up-to-date on the latest trends and developments by attending webinars and workshops, reading industry blogs, and writing informative blog posts on this website. Aaron also has a keen understanding of SEO and online marketing, which he uses to help his clients reach a wider audience and get the coverage they need. He cherishes spending quality time with his wife, two children, and elder parents.