As a general rule, life insurance for young adults is less expensive the younger you are when you initially purchase it.
Aside from replacing lost income, life insurance can also be used to pay off any debts owed by your estate.
In your 20s, your largest debt may be student loans.
That includes Parent PLUS loans.
Do I need life insurance at 25?
If you’re 25 with a wife who is staying home with a newborn, you DO need life insurance. If you’re 29 and single, you DO NOT need life insurance. If you’re 27, married, and both you and your spouse work, you might not need life insurance yet, but you may want to start thinking about it anyway.
At what age should you get life insurance?
The optimal age to purchase life insurance is under 35, but few people in that age group are able to afford life insurance. Roughly 57% of Americans have life insurance and more than half of them are 45 or older.
Can I get life insurance at 20?
If you’re a 20-something, it’s not too early to think about life insurance. In fact, it’s a perfect time to start your research. You may be able to lock in a great premium at your age. If you do, you can pay the same rate for decades, or even for life.
How much is life insurance for a 24 year old?
Examples of 30 year term policy prices if you are in your twenties:
|23 Years Old||$11.46||$19.54|
|24 Years Old||$11.46||$19.54|
|25 Years Old||$11.46||$20.13|
|26 Years Old||$11.64||$20.30|
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