Call Us (865) 966-2111 ☰ ˟
Logo
Call Us (865) 966-2111
  • Home
  • Our Agency
    • AboutImage of right arrow
      • Our Team
      • Refer a Friend
      • Discount Programs
      • Switching Insurance Companies
      • Privacy Policy
    • Our LocationsImage of right arrow
      • Knoxville
      • Dayton
      • Madisonville
      • Kingston
    • Get A Quote
    • Testimonials
    • Our Providers
  • Get a Quote
    • Auto Insurance Quote
    • Business Owners (BOP) Quote Form
    • Homeowners Insurance Quote
    • Life Insurance Quote
    • General Liability Quote Form
    • Classic Car Insurance
    • RV & Travel Trailer Insurance Quote
    • Watercraft Insurance Quote
    • Renters Insurance Quote
    • Workers Compensation Insurance Quote
  • All Products
    • Auto InsuranceImage of right arrow
      • Classic Car
      • Medical Payments Coverage
      • Minor Violation Forgiveness
      • Personal Injury Protection (PIP)
      • Rental Reimbursement
      • Uninsured/Underinsured Motorist Coverage
    • Home InsuranceImage of right arrow
      • Homeowners Liability
      • Landlords Insurance
      • Mortgage Protection
      • Scheduled Property Insurance
      • Renters Insurance
    • Farm InsuranceImage of right arrow
      • Crop Insurance
      • Farm Owners Insurance
      • Farm Livestock Insurance
      • Equine Insurance
      • Farm Equipment Insurance
      • Farm Dwelling Insurance
      • Farm Structures Insurance
      • Farm Auto Insurance
      • Farm Umbrella Insurance
      • Farm Liability Insurance
    • Life InsuranceImage of right arrow
      • Disability Insurance
      • Group Life Insurance
      • Individual Life Insurance
      • Long-Term Care Insurance
      • Second-to-Die Policy
    • Personal Umbrella Insurance
    • Powersports VehicleImage of right arrow
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Snowmobile Insurance
    • Coverage For Your BusinessImage of right arrow
      • Surety & Fidelity Bonds
      • Business Catastrophe Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Real Estate Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Equipment Insurance
      • Errors and Omissions Insurance
      • Extortion Insurance
      • Fidelity Bonds
      • Leave Management
      • Inland Marine Insurance
      • Loss Control Insurance
      • Kidnapping Insurance
      • Marine Insurance
      • Mechanical Breakdown Insurance
      • Office Insurance
      • Product Liability Insurance
      • Professional Liability Coverage
      • Ransom Insurance
      • Shipping Insurance
      • Small Business Insurance
      • Small Business Liability Insurance
      • Storage Insurance
      • Surety Bonds
      • Technology Insurance
      • Trailer Insurance
      • Transportation Insurance
      • Trucking
      • Workers Compensation
      • Van Insurance
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance
      • Alarm Contractors Insurance
      • Insurance for Arborists
      • Bar Insurance
      • Box Truck Insurance
      • Builders Risk Insurance
      • Car Dealership Insurance
      • Cargo Insurance and Freight Insurance
      • Cleaning Business Insurance
      • Construction Insurance
      • Consulting Firm Insurance
      • Contractors Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Dental Practice Insurance
      • Dump Truck Insurance
      • Educational Facility Insurance
      • Financial Institution Insurance
      • Fleet Insurance
      • Handyman Insurance
      • Garage Insurance
      • Healthcare Facility Insurance
      • Healthcare Practice Insurance
      • Law Firm Insurance
      • Life Science Insurance
      • Liquor Liability Insurance
      • Livestock Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Maritime Employers Insurance
      • Media & Advertising Insurance
      • Medical Malpractice Insurance
      • Non Profit Insurance
      • Nursing Home Insurance
      • Nursing Insurance
      • Orthotics & Prosthetics Insurance
      • Personal Trainer Insurance
      • Pharmacist Insurance
      • Pool & Spa Insurance
      • Printers & Publishers Insurance
      • Railroad Contractors Insurance
      • Real Estate Businesses Insurance
      • Retail Insurance
      • Scrap Metal Insurance
      • Security Guards Insurance
      • Self-Storage Insurance
      • Septic Contractors Insurance
      • Snow Plow Insurance
      • Specialized Truck Equipment Insurance
      • Technology Services Insurance
      • Tractor Insurance
      • Tow Trucks Insurance
      • Water Well Drillers Insurance
      • Veterinary Insurance
    • Cover for Your EmployeesImage of right arrow
      • Small Business Retirement Plans
      • Employer-Sponsored Retirement
      • Group Benefits
      • Group Disability Insurance
      • Voluntary Benefits
      • Retiree Health Coverage
      • Group Health Insurance
      • Disability Insurance
      • Individual Life Insurance
  • Carriers
  • Payment / Claims
  • Leave Us a Review
    • Knoxville, TN
    • Dayton, TN
    • Madisonville, TN
    • Kingston, TN
  • Contact
Home > Blog > Why Young People Need Life Insurance
WEDNESDAY, JULY 14, 2021

Why Young People Need Life Insurance

One common misconception is that a life insurance policy is only necessary for middle-aged or elderly people. The truth is that even young adults can benefit from purchasing a life insurance policy. 

Here’s more about why young people need life insurance in today's day and age.a person sitting at a desk in front of a computer 

Lower Premiums 

One of the main reasons that young people should buy a life insurance policy is so that they can enjoy lower premiums for the rest of their life. When compared to middle-aged people and the elderly, younger people are less likely to be married or have children. Due to this, some young people don't see the point of buying a life insurance policy at their age. However, most young people today can expect to have a spouse and children in the future. 

In general, the younger you are, the less expensive your premiums for life insurance will be. Therefore, you should buy a life insurance policy now while you're young, so that you can enjoy an inexpensive premium when you have a spouse and children. 

Paying Off Student Loans 

Even young people who don't want to start a family of their own can benefit from a life insurance policy. For if they were to pass away, life insurance could be used to cover any debts that they were to owe. If you're young, chances are, your largest debt is student loans. The average student loan debt in 2016 was about $37,000, according to Debt.org. 

All federal student loans, including Parent PLUS loans, are canceled when an individual passes. However, this is not the case for private student loans. A life insurance policy can help pay for any private student loans, which your parents may have cosigned for. 

Funeral Or Burial Costs 


Finally, a life insurance policy can help cover the costs of a funeral, burial, or cremation. The average funeral in North America costs anywhere from $7,000 to $10,000. The average cost of a direct cremation is about $1,100 in the United States. Unfortunately, after the death of a loved one, many families struggle to cover the final expenses. Therefore, a life insurance policy is a good investment for anyone, no matter their age. 

One of the smartest financial decisions a young person can make is buying a life insurance policy. For more information, don't hesitate to contact us.  
Posted 2:40 PM

Tags: life, insurance, premiums, costs, coverage
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021

  • insurance(6)
  • auto insurance(5)
  • renters insurance(5)
  • bop(4)
  • rv insurance(4)
  • coverage(4)
  • life(3)
  • general liability insurance(3)
  • business(3)
  • premiums(3)
  • farm insurance(3)
  • home insurance(3)
  • costs(3)
  • classic car insurance(3)
  • trucking insurance(3)
  • life insurance(2)
  • commercial(2)
  • policy(2)
  • powersports insurance(2)
  • liability(1)
  • workers compensation(1)
  • general(1)
  • recreational insurance(1)
  • workplace safety(1)
  • owners(1)
  • workers compensation insurance(1)
  • business owners policy(1)
  • boat insurance(1)
  • business insurance(1)

View Mobile Version

Contact Us Today!
(865) 966-2111

Social

Resources

  • Get a Quote
  • Payment / Claims
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us
  • Leave a Review

Contact Us

11020 Kingston Pike, Ste 320
Knoxville, TN 37934

Phone: (865) 966-2111 | info@mikedyerinsuranceagency.com

1158 Market Street
Dayton, TN 37321

Phone: (423) 775-3011

144 Warren Street
Madisonville, TN 37354

Phone: (423) 442-2111

508 N Kenutcky Street
Kingston, TN 37763

Phone: (865) 376-4507

© Copyright. All rights reserved. | Powered by Insurance Website Builder