Comments on: I’m in my early 20’s, can I qualify for life insurance?

By: Jerry

Jerry — Wed, 25 Apr 2007 23:02:51 +0000

Rare is the 20-year-old who is thinking about life insurance (or much of anything about the future, for that matter), as you have pointed out. However, the difference between a 20-y.o. and a 28-y.o. can be very distinct! Many people in their late 20’s are starting families and careers, and are in the perfect time to start thinking about life insurance and other grown-up concerns. The 20s are a decade of much change for many people, which can lead to considerations (like insurance) along the way.

By: Byron Udell

Byron Udell — Tue, 06 Mar 2007 08:46:41 +0000

Ed,

You are so right. The problem we see in the business is, even though life insurance is very expensive, often times people in their 20\’s still don\’t have enough money to purchase it. They\’re concern is to pay off college loans, etc. And, thinking back to when I was 20, I wasn\’t concerned about my future health.

By: Ed Hinerman

Ed Hinerman — Mon, 05 Mar 2007 20:46:26 +0000

While I agree that most young people may not \"need\" insurance coverage immediately, I think it is a prudent move to buy insurance young and either buy a 30 year term or better yet, with the low price, a 30 year return of premium term.

This may take some coaching from parents, but there are plenty of parents out there that wish they had bought young, not just because the premium was lower, but because their health and their needs have changed. Sometimes both of those things have changed dramatically. Remember, locking in your good health also locks in conversions at the best rates.

Thinking ahead isn\'t what young people are best at, but parents, especially those with health problems, can help clarify the need.