Do I Need Life Insurance? 5 Reasons Why Young Adults Should Get Covered Now

Being a young adult can be a fun and exciting period of your life. You’re exploring your independence, establishing your career, and maybe even starting a family. So now you’re wondering “do I need life insurance?” Well the answer is definitely!

Thinking about death might feel a bit grim and you may not want to think about financial planning for your own funeral right now, but take just a few minutes and do it. If you’re young and in good health, it’s important to start thinking about the future and making smart decisions when it comes to securing the finances for you and your loved ones. Here are five reasons why your young self should get covered now!

#1 Life Is Unpredictable

do i need life insurance

Accidents happen every single day. You can be the safest person in the world, but sometimes stuff occurs that we can’t control. Obtaining coverage early allows you to ensure financial security for your family. So instead of wondering “do I need life insurance”, have the mindset of being prepared as much as possible. By getting covered now, you’re in control of your future. There are many opportunities with life insurance, but at the minimum at least you can relieve your family of the financial burden that comes after your passing.

#2 Do I Need Life Insurance Even Though I Have Money For A Funeral?

Funeral costs continue to increase. The average funeral costs in the United States in 2022 were $10,000. This amount does not include any other expenses such as flowers, headstone, or burial plot. Funeral prices have been increasing over the years, and this trend is unlikely to reverse anytime soon. By getting coverage now, you can lock in a lower premium rate instead of paying more as prices continue to rise in the future.

#3 Financial Support for the Ones We Love 💖

If something were to happen unexpectedly, the last you’d want is to leave your family in a financial distress situation, right? Life insurance can help ensure that your loved ones do not have to face financial difficulties and can focus on the grieving process.

I’m sure you’ve heard of GoFundMe. If not, it’s a website that has become popular over the last few years because families don’t always have the funds to lay their father/mother/wife/husband/son/daughter/aunt/uncle/etc. to rest. Having to ask for money through GoFundMe can feel embarrassing and there is no guarantee that they will receive all the money needed. It’s so much easier for everyone if you pay a monthly premium now in order to avoid the GoFundMe situation in the future. Plus, it ensures you are remembered in accordance with how you deserve, rather than leaving the family in debt.

#4 Affordable Rates

do i need life insurance

Don’t forget too that it’s much more affordable to purchase funeral insurance when you’re younger! And if you’re in good health, your monthly premiums are considerably lower. Basically the longer you wait, the higher the premium costs.

There are two main types of life insurance: permanent (whole life) and temporary (term life). Each type grows and pays death benefits differently. It is important to work with a life insurance broker to see which policy would work for your specific needs.

#5 Cash Accumulation

With whole life insurance, you have the opportunity to accumulate cash value over time. That cash value is yours and it’s a valuable asset that can be used for emergencies, retirement and even a child’s education. The longer you are covered, the more money you can save and the more interest you will accrue year over year. And it’s tax free, so start now to reap the most benefits!


Planning for the future is essential and it’s never too early to start. Obtaining life insurance is an important decision that can alleviate your family of financial burden in the event of tragedy. So don’t hesitate to get covered now and secure financial protection for you and your loved ones as you move through life. Remember: the younger you are, the lower your premium rates can be.

Cheers to making the decision to protect your loved ones sooner rather than later!

Call 732-705-1332 for a free quote today!

do i need life insurance