Whether you're beginning your career, getting married, welcoming a baby, or buying your first home, one financial step often gets overlooked: life insurance.
While it may not be the flashiest part of adulthood, life insurance is one of the simplest and most meaningful ways to protect the people who depend on you, or those who may depend on you in the future.
So when should you consider starting a policy? Here’s what to know.
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Why Life Insurance Matters, Even When You’re Young
Many people think life insurance is something you buy later in life, but the truth is:
The earlier you start, the easier and more affordable it usually is.
Life insurance can help cover major expenses such as:
- Rent or mortgage payments
- Everyday living costs
- Medical or final expenses
- Student loans or personal debt
- Childcare or education costs (if you have kids now or plan to later)
Even if you’re single with no dependents today, life insurance can help lock in low rates now and support future goals, like protecting a future spouse or children, or covering debts so they don’t fall on loved ones.
Key Moments When You Should Consider Life Insurance
Whether you’re starting a family or just starting out, these life milestones are excellent times to get coverage:
1. When You Begin Your Career
A steady income often comes with financial responsibilities, rent, car loans, student loans, or supporting loved ones. Young professionals can lock in the lowest rates because premiums increase with age and health changes.
2. When You Get Married
Marriage often means shared finances, combined goals, and long-term planning.
Life insurance helps protect your spouse from unexpected income loss, debts, or sudden expenses.
3. When You Have a Baby
A new child means new responsibilities. Life insurance offers financial security for everything from basic needs to long-term education plans.
4. When You Buy a Home
A mortgage is one of the biggest financial commitments you’ll ever make.
Life insurance ensures your partner, or co-borrower, won’t have to manage that payment alone.
5. When You Change Jobs
Switching employers can mean losing workplace life insurance coverage.
A personal policy stays with you, no matter where your career goes.
Why Starting Young Makes a Big Difference
Life insurance pricing is based on age and health, two things that rarely trend in your favor over time.
That means:
- Younger = lower cost
- Healthier = lower cost
- Locking in early = big long-term savings
Many people in their 20s and 30s can secure coverage for far less than they expect, sometimes just a few dollars a month.
What Type of Life Insurance Is Best?
Term Life Insurance
- Most affordable option
- Covers a set period (10, 20, 30 years)
- Ideal for income replacement, mortgage protection, and young adults or families
Whole Life or Permanent Life Insurance
- Lasts your entire life
- Builds cash value over time
- Higher premiums but strong long-term benefits
Many people start with term insurance for affordable protection and may add a small whole life policy for additional benefits. A Peoples Insurance agent can help you find the right mix for your goals.
How Much Coverage Do You Actually Need?
A general rule of thumb is 7–10 times your annual income, but your ideal number depends on:
- Debt or student loans
- Mortgage or rent
- Family size (now or future plans)
- Income needs
- Long-term goals like childcare or college
A personalized quote is the easiest way to determine your ideal coverage amount.
Why Choose Peoples Insurance for Life Insurance
Life moves quickly, whether you're building a family, growing your career, or planning for the future. Life insurance is one of the simplest and most meaningful ways to protect the people you love, and starting sooner rather than later can save you money in the long run.
If you’re unsure where to begin, Peoples Insurance is here to help you explore your options and find a plan that fits your budget and your future.