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Life Insurance for Young Adults


Life insurance isn’t something that many young people take into consideration. In fact, most people don’t even think about purchasing life insurance until after they’ve gotten married and had children first. However, being a young, single adult doesn’t mean that it’s not in your best interest to look into life insurance. There are many reasons why it’s a good idea to explore your options at a young age.

young adult

Take the Weight off Your Family

Accidents and illness can strike at any moment, and being young doesn’t mean you’re bulletproof. Think about what you’d be leaving behind if something were to happen to you. Chances are you have some sort of debt collected that someone in your family would fall responsible for. Medical and funeral costs aren’t cheap, and many families spend more than they can afford to in order to make sure that their loved ones have a proper ceremony. Life insurance would help make sure that your family doesn’t have to take on any added stress at an already difficult time. If you don’t have much debt or close family, your money could always be left to a favorite charity or cause as well.

Provide for Yourself

Accidents and illness can put a halt on your ability to earn a living. Think about the resources you’d have if there wasn’t a way for you to provide for yourself. Government assistance can be a lengthy process and is rarely abundant, and most families don’t have a plethora of extra cash to fund medical bills as well as lifestyle habits. Income protection insurance can help guarantee your independence if you were suddenly unable to return to work for a long period of time. It can cover up to 75% of your monthly income to ensure that you don’t lose everything you worked hard for.

The Price is Right

When you’re young and healthy, insurance rates are at their lowest. Also, you’ll have had less time to accumulate driving citations and other offenses that might affect the cost of life insurance. Term life insurance is a good choice if you don’t want to pay a lot at once. It typically has lower premiums but only covers you for a set amount of time. Permanent life insurance is more expensive but gives you longer coverage and more benefits. Most insurance companies can change your term life insurance to permanent insurance with a fee, so you can get the fuller coverage when you can afford to pay more.


It’s beneficial to already have a policy if you do get married and have children. Most people jump into deciding on life insurance with hardly any knowledge on the subject. By starting early, you’ll have a good grasp on what decisions to make when you have more than yourself to look out for. Having life insurance when you’re young can also help guarantee your insurability later on in life.

Unfortunately, tomorrow is not guaranteed. It’s an uncomfortable thing to face, but life insurance really is a selfless decision. It helps to ensure that the people you care about are taken care of and left without any burdens in a tragic time. Many people act as though living to be ninety is set in stone. The reality is that anything can happen in an instant, so it’s important to be ready at a young age. There are many options available and talking with a reliable life insurance agent can help you find the right policy to fit your lifestyle.

Arlene Chandler is a freelance writer who focuses on preparing for the unexpected turns life can take. She currently writes for the Australian life insurance provider http://www.suncorp.com.au/insurance/life-insurance.



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