If you’re in your twenties—or even your early thirties—purchasing life insurance probably isn’t a priority. Perhaps you’re focusing instead on paying down your student loans, or maybe no one’s financially dependent on you yet. Regardless of why you’ve put off buying coverage, though, it’s wise to revisit available policies sooner rather than later for the following reasons. 

Why All Millennials Should Buy Life Insurance 

1. To Secure Lower Premiums 

Insurers base premiums on statistics, and in this regard, younger adults are less likely to die than older adults. As such, they can secure relatively affordable rates for sizable life insurance policies. If you purchase a 30-year policy at 25, for example, you can expect to pay considerably less for coverage each year than if you were to purchase the same policy at 35. 

2. To Have Peace of Mind 

If you’re married with kids, there's a good chance your spouse is a long way from retirement and your children are still financially dependent on you. Buying a life policy while your family is still young will provide considerable peace of mind because you know they’ll have a safety net should something ever happen to you. 

3. To Protect Loved Ones 

At the end of the day, millennials should buy life insurance for the same reason that every other segment of the population should: because anything can happen. Life is unpredictable, and purchasing adequate coverage is the only way to ensure your family will be protected in all eventualities. A funeral alone can cost between $5,000 and $10,000. Purchasing a policy that will at least cover burial costs can relieve a significant financial burden for your loved ones in the event of an unanticipated loss.  

For help finding affordable life insurance, turn to IGO Insurance. Based in Raleigh, this independent agency was founded in 1970 and was purchased by its CEO, Jimmie Robertson, in 2013. Serving all of North Carolina, their seasoned insurance agents can assist with virtually all your coverage needs, including business, homeowners, life, health, and auto insurance. And because they work with more than 15 carriers, you can be sure they’ll help you find the most competitive rates possible. To request a quote, call (919) 782-1560 or reach out on their website.