Life Insurance For Young Adults

Written by Jason Fisher

Life Insurance For Young Adults

The younger you buy life insurance, the cheaper it is.

Buying life insurance for young adults is a critical step in financial planning, and for many different reasons. Did you know you can buy life insurance if you’re pregnant or life insurance with lupus?  It’s super affordable, a person is more likely to be healthy at a younger age, and a young adults human capital is very large.

Nobody wants to think dying young is a possibility, but it happens every day. This type of event could destroy the financial future of a new family.

If you are young and looking for life insurance, let us be your resource.

We provide the cheapest life insurance for young adults available on the market, and we use financially strong companies so there is never worry down the road.

Life Insurance For Young Adults

There are many schools of thought on which is the best life insurance for young adults, but the fact of the matter is you need it. There are so many things in your life you will need to prepare for, and I doubt life insurance is high on your list. Yet, believe it or not, there are some advantages to buying young. Here are the big three:

  • Affordability
  • Convertibility
  • Protection

If there’s nothing else I can stress at this point, it’s affordability. Life insurance for young adults is incredibly cheap, and it will never be this cheap again. One of the largest regrets we hear from adults in their 50’s and 60’s in regards to life insurance is wishing they had purchased it much earlier in life. In fact, I’m not sure I’ve ever heard a person in their 50’s and 60’s who did buy insurance ever say it was a mistake. Not once.

So, how affordable are we talking? Let’s take a healthy male at age 30. Here’s what he could expect to pay:









Those premiums are unbelievably low. The average car payment on a monthly basis is as high as some of the annual payments for this coverage. Even if you can’t afford to make the annual payment (it’s the best way to pay because you pay the least), the monthly price can be less than $20/month. You pay more for your phone, your cable and internet, the list goes on. Life insurance for young adults can be locked in for much longer than a person of age, also.

When you’re older, these premiums increase exponentially, and what you pay on a yearly basis could become your monthly bill.

Convertibility is another huge aspect of buying young. You can purchase the above mentioned policy, but it won’t last forever. The usual term policies run for 20-30 years, and at the end of it’s duration, the policy either expires, or forces you out due to extraordinary high payments (think thousands per month).

If your policy can be converted, however, you can turn your term policy into a permanent one so you don’t lose coverage. Not only that, you can do so without undergoing more medical exams, and your current health at the time of your conversion is irrelevant. You are allowed to convert your term to permanent at the health rating you obtained when you were much younger.

Just think, you could have gotten the top tier ratings for life insurance at 30, but then been diagnosed with a severe disease just later. If you convert, you still get the top tier rating, so your newly diagnosed health concern is not a concern at all in the eyes of the life insurance carrier.

Protection is obviously the reason you buy the life insurance in the first place, and when you’re a young adult life insurance covers quite a bit for you.

  1. Mortgage
  2. Debt
  3. Kids College
  4. Burial Costs
  5. Income Replacement

If you add up your mortgage, debt, kids’ potential college costs, burial fees and the value of money required to replace your income to your family or dependents for a 7-10 year period, you can see your human capital is large. (Human capital is the value of your income earning potential over a period of time.)

It’s not uncommon for a 20- or 30-year-old to require a million dollar life insurance policy or more in coverage. This amount seems large, but it’s affordable and necessary. Don’t be intimidated in thinking this is too much coverage. Even if you just secured enough life insurance to cover 10x your income, it could be a significant coverage amount.

At the end of the day, you have to ask yourself how far the death benefit amount could go when you subtract all the immediate bills and debts. You might be surprised how fast it depletes.

If you are a person browsing life insurance for young adults, contact us today so we can help you make your decision. We are un-biased and independent agents. We’d be happy to explain everything in great detail so you can be confident you made the right buy at the right time.


About The Life Insurance Blog
About The Life Insurance Blog

The Life Insurance Blog is the main resource to information regarding life insurance on the internet. We are knowledgeable across all the different types of life insurance, familiar with a vast array of carriers, and we are actual life insurance agents.

We work with individuals across the nation to secure the best life insurance rates.

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