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Am I Too Young For Life Insurance?

Often when we’re young and invincible, life insurance is the furthest thing from our minds. After all, it is typically most useful at the end of one’s road, and most vibrant, healthy twenty-somethings can expect to keep rolling for quite some time, excluding a sudden and unexpected stop. From this perspective, it’s easy to believe that life insurance is unnecessary for anyone born after 1985.

However, even without the fact that it is impossible to completely bar the unfortunate, like most things life insurance is much less expensive if you get it before you absolutely need it. As a matter of fact, the three Frugal Ladies have life and health insurance – we understand the importance and need of having both.

Budgeting life insurance into your life is a necessary step - even when you're young (Source)
Budgeting life insurance into your life is a necessary step – even when you’re young (Source)

It sounds fairly obvious, after all, a good winter coat can cost hundreds in the winter and a few quid during beach season, but many people do not understand just how prudent an early investment in a life insurance policy may be. Insurance companies work tirelessly to assess the perceived risk of insuring each individual client and price their policies accordingly. Some say that age is just a number, but none of these people work at insurance companies. If you’re Australian like Jess, we recommend that you look into Suncorp for a quick quote online. Regardless of where you live, you should do proper research and only trust accredited and known life insurance providers.

A young person in the prime of their life will have access to much more preferable rates and options as compared to an older person, and may even qualify for a larger policy value. Some policy types even lock clients in at their initial rate, allowing you to enjoy the profits of your precocious practicality for decades to come.

Of course, age is not the deciding factor on the quality and price of life insurance policies available to you. Other factors such as health, occupation and lifestyle can greatly impact a provider’s evaluation of a potential client. The level and type of coverage you require may also change as your life does to allow for events such as marriage and having children.

Life insurance protects your family financially if anything ever happens to you. Mine protects my parents and sisters.
Life insurance protects your family financially if anything ever happens to you. Mine protects my parents and sisters.

However, your age is a large part of the picture a provider will try to paint of your life from the minute your application arrives at the office, and they do so before they ever consider offering you a policy. The reality of life is that age spares no man in its toll, and this is not a secret to insurance providers.

The best time to start anything beneficial is as soon as possible, and life insurance is certainly no exception. Insurance providers reward foresight with savings, and the best way to take advantage of this is to get your policy early.

Life is uncertain, and it is wise for a person of any age to be prepared for as many changes as possible. Nevertheless, one thing is for sure: the price of obtaining an insurance policy has about as much chance of going down with time as the number of candles on your cake each year.

Featured image source.

Do you have life insurance? Tell us your thoughts below!

About Ronnie E.

Ronnie is the frugal Latina of the group. Hailing from the beautiful Andes Mountains in Bolivia, she lives and breathes frugality. She loves to figure out how to spend less money and takes on the challenge of finding great deals and cheaper options every day.

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  • Terry My Journey With Candida

    Life and health insurance are so very important. I wouldn’t be without either of them. If something happens, I want my loved ones to have an easy time as possible. Closed. Please finish all threads by 1/26 8PM Est .

  • Melanie

    It’s so important to have life insurance! If anything happens to anyone it would help your loved ones out. I think a lot of people over look it these days

  • amanda ripsam

    I used to sell primiarcia life insurance. I took the exam and failed it. there’s a lot more cost to sell life insurance then what meets the customer’s eye. These people have to work there butts off to make 100 dollars. with more then 100 cold calls to people and a lot of no’s and if you sell it when your younger like under 25 like I did it’s a chore to convince someone they need life insurance.

    I have learned it is important to have life insurance I lost a sibling when he was 6 years old and had my parents had life insurance for him they wouldnt have had the salvation army and a few other places chip in for funeral cost. It’s a tricky market to sell that stuff but it’s so very important to have.

  • This is an important post. Nobody is too young to have life insurance. It is important to plan for the future since anything can happen.

  • I have to agree – you are not too old or too young to get an insurance – everyone needs it. Anything can happen as what they say – and it’s better to be safe earlier than sorry.

  • Robin Rue

    As soon as I had kids, I got life insurance. It was one of the first things I did. I don’t think anyone is too young because you just never know.

  • cyndie

    I totally agree. No matter what your age, you need life insurance

  • mail4rosey

    This is a good post. We have life insurance for everyone, including the kids, but NOT for me (I gave mine up when I moved). I really need to get that fixed pronto!

  • vinma

    I must say that the only life insurance I have is the one from my work. Same for my hubby. I don’t think we ever had proper life insurance for the whole family. Your post is actually encountering me to start shopping for it. Thank you!

  • Isabella Grey

    So true! I had a friend who passed away suddenly not very long ago, and thankfully she had insurance. Her family could never have afforded the funeral otherwise.

  • Lawna Young

    I do not have health insurance and I cannot afford it. Ideally I would like to have health insurance and have a prepaid plot and headstone for my husband and I.

  • Interesting. I do not have life insurance but I it is something most people should get. For example if you are a parent and have a family then it is super important but if you live alone and have no one, then it should be your choice.

  • Melanie Roberts

    Life Insurance is sooo important and I always make sure that we are covered; I know some people say it’s a scam or not worth it.. BUT you will be thankful IF you ever need it…thanks for sharing

  • Marielle A. Lord

    I do not have life insurance at the moment but plan on getting one as soon as I get back to work. This is something I should have done the moment I became pregnant with my son. As a parent I believe it is our duty to make sure our kids are provided for in the event of our death.

  • One if the things about my job is that we are guaranteed life insurance. I would recommend everyone get it because you never know what can happen.

  • TouristMeetsTraveler

    I use to work in insurance and you are never too young to get insurance.

  • Lean Lacaba

    My mother insured the whole family, including my little sister. With life being so unexpected, it’s better to be safe than sorry,

  • 2 things you’re never too young for: insurance and saving for retirement.

  • Nikki

    I think you’re never too young. I really need to look into getting it. I’m a single mom and gods forbid anything happens to me, I need to make sure my son is cared for.

  • Teresa McCluskey

    I do not have life insurance but your never to young for it!

  • Onica {MommyFactor}

    I’m surprised to find you can get life insurance at a younger age. I always thought you had be older. But your right, the sooner you sign up the better cause you never know