Life insurance is one of those things people tend to put off.

“I’ll get it when I get married.”

“I’ll get it when we have kids.”

“I’ll get it after we buy the house.”

The problem is that life insurance generally becomes more expensive as you get older, and your health can change along the way.

That’s why your 20s and 30s can be an excellent time to consider buying life insurance.

Age Matters

Life insurance pricing is based partly on mortality risk.

Generally speaking, a healthy 27-year-old represents less immediate mortality risk to an insurance company than a healthy 57-year-old.

That is reflected in pricing.

Buying coverage when you’re younger may allow you to lock in a premium based on your younger age, depending on the type of policy.

Health Matters Too

You can’t predict what your health will look like ten years from now.

That’s an important part of this conversation.

Someone may be perfectly healthy at 28 and develop high blood pressure, diabetes, or another health condition at 38.

That doesn’t necessarily mean they won’t qualify for life insurance.

But it could affect the available products, underwriting classification, or premium.

Buying while you’re young and healthy can help reduce that uncertainty.

“But I Don’t Have Kids”

Children aren’t the only reason to own life insurance.

Consider whether anyone would be financially affected by your death.

That could include:

• A spouse or partner
• Parents
• A co-signer
• Business partners
• Someone sharing a mortgage
• Family members who would handle final expenses

Your need for coverage may be smaller today than it will be later, but that doesn’t necessarily mean the need is zero.

Major Life Insurance Milestones

There are several points in life when reviewing your coverage makes sense.

Getting Married

Marriage combines financial lives. Life insurance can help a surviving spouse manage shared debts and replace lost income.

Buying a Home

A mortgage is often the largest debt a family will take on. Mortgage protection through life insurance can help provide funds that allow a surviving family to remain in the home.

Having Children

Children can dramatically increase the financial impact of losing a parent’s income.

Coverage can help with everyday expenses, childcare, education, debt, and future financial needs.

Starting a Business

Entrepreneurs can have additional life insurance needs involving business debt, key employees, partners, and succession planning.

Buying Earlier Doesn’t Mean Buying Once

Life insurance planning isn’t necessarily a one-time event.

Your coverage should be reviewed as your life changes.

A policy purchased at 27 may still be valuable at 37, but marriage, children, a new home, increased income, or business ownership may mean additional coverage is appropriate.

Think of life insurance as part of your overall financial foundation.

You don’t buy it because you expect something bad to happen.

You buy it because life changes—and having protection in place before those changes happen can give you more options.