You probably think that being in your twenties means you have zero need for life insurance. Think again! In fact, this can be one of the best times to consider a policy—way before you actually need one. Here are four reasons to purchase life insurance in your 20s.

Reason #1: You Have Student Loans with Cosigners

Getting a college degree is expensive. If you took out student loans with a cosigner, you owe it to them to get a life insurance policy. Why?

When you have a cosigner, your debt outlives you. That means the money is still owed no matter if you’re alive and well to earn a paycheck or not. Help keep the person who saw promise in you financially stable by having a policy in place to pay off that debt in the event of your death.

Reason #2: You Will Have End of Life Expenses

It may be a little morbid to think about, but someone has to pay for your funeral or cremation after death. Today, with costs ranging over $10,000 or more, this can require a significant amount of cash without delay. Even keeping a small policy just to cover unexpected costs like these is a perfect way to protect those you love from having to come up with this money from their own pockets.

Reason #3: Your Family Might Need Your Help Sooner Than You Realize

Even in your twenties, life can be unpredictable. If something medically happened to your parents, grandparents, or siblings where they needed your continued financial support, you would likely do everything in your power to help. Having a life insurance policy in place enables you to continue that support even after death. Remember, if you have a spouse or child already, these are other parties who want to protect with this coverage.

Reason #4: You Hope to Have a Family in the Future

Another reason to consider life insurance in your twenties is if you hope to get married or have children in the future. Rates, while you’re young and healthy, are usually much less expensive than later in life when protection becomes critical. Think of it as a way of growing your financial foundation before you finally settle down.

Applying for life insurance in your twenties might not seem like a priority, and it might feel cumbersome. It doesn't have to be. Let one of our agents guide you through the selection process today!