Yes, Life Insurance Is Still Worthwhile Even If You’re Young, Single, And Healthy

This article on Life Insurance is provided by Everplans — The web's leading resource for planning and organizing your life. Create, store and share important documents that your loved ones might need. Find out more about Everplans »

young woman checking her phone in a cafe

For a few bucks a month, you could save your family hundreds of thousands in debt.

You eat well, exercise, and think 30 is old. So why would you need Life Insurance? It’s not like you’re married and have a family to worry about. Your biggest concern is making the perfect Spotify road trip playlist. And that’s wonderful! But Life Insurance isn’t just for parents and boring people who think jazz belongs on Spotify playlists. If you’re young, single, and healthy, now's the perfect time to get some.

Don’t Bankrupt Your Family

People love you, more people than you probably realize. And these people will be heartbroken if you die. The last thing you want to do is burden your loved ones with your debt. If you’ve taken out a loan (car, college, etc.) and had a family member co-sign the agreement, that family member is on the hook if you pass away.

But for under $20 a month (terms and conditions will vary), you can take out a Life Insurance policy that will cover your debts and allow your family member to mourn your passing without worrying about how to come up with $20,000 for a college degree that can no longer do anyone any good. 

You’ll need to do some simple math to figure out the proper term of your policy. For instance, if you can pay off the college debt in 10-years, you’ll need a 10-year term policy. Any insurance agent can walk you through the process, so don’t get overwhelmed by the data. For a few pennies a day and a bit of middle school math, you can save your family members thousands of dollars and be remembered as the thoughtful sweetheart that we know you are.

Life Insurance Is Cheap...For Now

If you’re young and healthy, Life Insurance costs less than your monthly Starbucks bill. The older you get, or the more wear and tear you put on your body, the more expensive and difficult it becomes to obtain. So get in early while the gettin’ is good and you can still afford it.

Funerals Aren’t Free

The cost of a funeral can be over $10,000, more if you want a custom casket. The benefits from a Life Insurance policy can make sure your loved ones aren’t stuck with the bill. We hope you’ll never need it for this purpose, but like the pair of backup pants you bring to a chili cook-off, it’s better to have them and not need them than need them and not have them. (We can't be the only ones who bring extra pants to a chili cook-off, right?)

In Sickness And In Health...But Mostly In Sickness

While you’re healthy today, there’s no telling what tomorrow will bring. And if you unfortunately get seriously ill, medical costs will soar higher and faster than a rocket. After you die, those medical bills might not magically disappear, eating into all the assets you leave behind and perhaps even carrying over to your family. 

You May Not Be Single Forever

Maybe you don’t have family. Maybe you never needed anyone to cosign a loan. And maybe you imagine yourself sneaking out of this world undetected. But, at the risk of sounding like a Hallmark channel original movie, love will find a way. Out of nowhere you may find yourself in a relationship and you’ll have responsibilities you’ve never imagined...ones that continue even after you pass away. By having Life Insurance now, you’ll appreciate the benefits so that when you suddenly have a significant other and 20 children and five dogs and a turtle, you’ll rest easy knowing they’ll be taken care of properly. Because when it comes to Life Insurance, too soon is just soon enough.

State-By-State Health, Legal, And End-Of-Life Resources

Life Insurance

Related Topics