Life Insurance For Young Adults

Written by Jason Fisher

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.

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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. If you would like to buy life insurance online instantly, we can help!

life insurance for young adultsAs a young adult, life insurance typically isn’t in the front of your mind, but it’s one of the most important purchases that you could ever make for your loved ones. If something tragic were to happen to you, your family would be responsible for your student loans, mortgage payment, and much more.

If you’re just starting a family, either getting married or buying a home, it’s important that you have the proper life insurance policy in place. This article is going to look at the different factors that you’ll need to consider to ensure that you’re getting quality life insurance to meet your needs.

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.

Getting The Cheapest Life Insurance As A Young Adult

As a young adult, you have a huge advantage when you’re looking to get cheap life insurance protection for your family. The older that you are, the more that you’re going to pay every month, because you’re young, you have a better chance of getting affordable life insurance protection. There are several things that you can do to help secure better rates from the insurance company.

The first thing that you should do is cut out any tobacco that you use. If you’re listed as a smoker on your application, then you can expect to pay a lot higher premiums for insurance coverage. In fact, smokers are going to pay twice as much for coverage. If you want to get the cheapest life insurance as a young adult, it’s time to kick those cigarettes to the curb, it will save you thousands of dollars.

The next thing that you should do is improve your overall health. Before the company gives you coverage, they are going to require that you take a medical exam. If you want to save money, you’ll need to get better results from the medical exam.

The two best ways to do that can are by starting an exercise program and sticking to a healthy diet. Both of these can help you lose weight, lower your blood pressure, and reduce your risks of being diagnosed with diabetes or cardiovascular problems. If you want to save money, it’s time to lace up those running shoes and hit the gym. Being overweight is going to cause your insurance rates to go up by 50% or more. If you are in need of impaired risk life insurance or life insurance with health problems, we can help!

It’s also very important that you don’t wait another year to get insurance protection. The older that you are when you apply for life insurance, the more that the policy is going to be. Waiting could cost you hundreds of dollars every year on your life insurance coverage. If you want to save money, it’s time to apply today.

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.

Unlike traditional insurance agents at most companies, we are independent agents, which means that we work with dozens and dozens of highly rated companies across the nation. We can bring all of the best insurance rates directly to you. It’s our mission to ensure that you’re getting the best rates for your coverage, and we can save you hours and hours looking for those rates.

We know that you don’t want to think about your passing, especially as a young adult, but it’s vital that you plan for the inevitable. You never know what curves life is going to throw at you tomorrow, which means that you shouldn’t wait any longer to get quality life insurance protection. If you have any questions, or you’re ready to get life insurance, please contact one of our agents today.


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