Young, broke, and thinking life insurance is for “old people”? Here’s why your future self might thank you for getting covered now.
Let’s be honest, when you’re under 30, life insurance probably ranks somewhere between “organize my sock drawer” and “research retirement plans” on your to-do list. You’re busy building a career, paying off student loans, maybe traveling, maybe figuring out how to adult, and the idea of planning for your death? Yeah, not exactly top of mind.
But here’s the thing: life insurance isn’t just for your parents or grandparents. And depending on your situation, it might actually be one of the smartest (and cheapest) financial moves you can make right now.
Here’s why:
1. It’s crazy affordable when you’re young and healthy.
The younger and healthier you are, the lower your rates. A 25-year-old can often lock in a solid term policy for the cost of a few Starbucks runs a month. Wait until you’re older (or develop health conditions), and those rates can skyrocket.
2. You probably have more financial responsibility than you realize.
Even if you don’t have kids or a mortgage, think about this: do you have co-signed student loans? Shared credit card debt? Would your parents or partner be left with bills if something happened to you? Life insurance can help cover those costs so your loved ones aren’t left scrambling.
3. It can protect your future family — before you even have one.
If you plan on getting married, having kids, or buying a home down the road, locking in coverage now guarantees you’ll have that safety net in place without worrying about qualifying later.
4. Your employer coverage probably isn’t enough.
Sure, you might have a small life insurance policy through work. But those are usually limited (think one or two years’ salary), and they don’t follow you if you change jobs. A personal policy fills that gap.
5. It’s not just about death.
Some policies build cash value over time or offer living benefits if you face a serious illness. It’s worth asking your agent what options are out there, you might be surprised.
Bottom line: You might not need a huge policy at 25, but having something in place can give you and your family peace of mind. And if you lock it in early, you’re setting yourself up for long-term savings.
So no, life insurance isn’t just for “old people.” It’s for smart people who want to take care of their future and trust me, your future self will thank you.
