If you’re like me, life insurance is probably not anywhere close to being on your radar. I'm under 30, I don't own a home, and I don't have kids. Not to mention I already have enough financial priorities on my plate what with trying to save for retirement, save for emergencies, pay off debt, and generally get my life together. The idea of paying an extra sum to insure my life is not exactly at the top of my to-do list. Besides, I’m still young and lucky enough to have my health — should I really be thinking about life insurance?
Turns out, I should. And you probably should, too.
A 2017 Princeton survey found that 65% of 18 to 29-year-olds don't have life insurance. But, even though millennials are not likely to purchase a life insurance policy, the best time to do so is actually under the age of 35. And there are a number of good reasons why purchasing life insurance early should be part of your financial plan. Read on for six reasons why.