If you’re in your 20s or 30s, life insurance probably feels like something for later — after the house, the wedding, the kids. But waiting means paying more later — sometimes much more — and missing out on modern, flexible financial planning advantages and protection you can only lock in while you’re young.
Life insurance isn’t just for the people you love — it secures your future and your freedom. When you’re young and healthy, coverage is more affordable, flexible, and powerful than most people realize. It can grow with you, help you plan smarter, and give you options when life changes.
This guide will show you how life insurance fits into your financial goals today, not someday.
Why Younger Adults Are Skipping Life Insurance
You’re not alone if life insurance isn’t high on your priority list. Many millennials and Gen Z adults are delaying milestones that used to trigger the purchase — marriage, kids, or a mortgage. But those milestones aren’t the only reasons to get insured.
According to the joint Capgemini–LIMRA World Life Insurance Report 2026, one in four consumers avoids buying life insurance because they find it confusing or full of jargon. Combine that with the myth that coverage is expensive, and it’s easy to see why so many people put it off.
In fact, the report found that 63% of adults under 40 say they have no immediate plans to marry, and 84% say they aren’t planning to have children in the near term. As a result, many younger consumers feel life insurance doesn’t align with their current financial priorities or life stage — especially for those keeping up with student loans, rent, and inflation.
The truth? Waiting to buy life insurance usually means paying more later — or not qualifying at all if health issues develop.
What Life Insurance Can Do for You — Even Without Dependents
You don’t need a spouse or children to benefit from life insurance. In fact, starting early can give you advantages that older adults can’t match.
Here’s what it can do for you:
- Lock in lower rates. Premiums are based on age and health. Buy early and save for decades.
- Protect your insurability. Once you’re covered, your policy can’t be canceled if your health changes.
- Cover shared debts. If someone co-signed your student loans or credit card, insurance protects them from being stuck with the balance.
- Access living benefits. Specific riders/endorsements on some policies allow you to tap into funds if you face a serious illness or disability.
- Build long-term value. Permanent policies can grow tax-deferred cash value that you can borrow
- Fund buy-sell agreements. If you start, or buy into, a business with a partner.
For many young adults, a small, term policy is a practical starting point. It provides immediate protection and can be expanded or converted as your life evolves.
Making Life Insurance More Accessible and Relevant
Life insurance has changed. Digital tools now make applying quick, transparent, and less intimidating. Many companies use simplified underwriting, meaning you can often get approved without a medical exam.
Here’s how to start:
- Clarify your goals. Decide what you want your policy to accomplish — protecting family, covering debt, or building savings.
- Understand your options. Term life is affordable and straightforward; permanent life offers lifetime coverage with added flexibility.
- Start small. Even modest coverage builds financial protection and peace of mind.
- Work with an independent agent. Independent agencies like Brooks, Todd & McNeil represent multiple carriers, helping you compare rates and features without pressure.
Our agents focus on education, not sales. We’ll walk you through the terms, answer your questions, and match your coverage to your goals and budget.
Rethinking the Role of Life Insurance in Financial Planning
Life insurance isn’t just protection — it’s a strategy. Think of it as part of your broader financial foundation, alongside savings, emergency funds, and investments.
It can:
- Cover co-signed or private student loans
- Fund final expenses, easing the burden on loved ones
- Provide liquidity for small business owners or freelancers
- Support a charitable cause or leave a legacy gift
Even if no one depends on your income today, your financial responsibilities will grow over time. Starting early gives you control and options later.
A Smarter Way to Plan Ahead
Buying life insurance now isn’t about fear — it’s about foresight. It’s a way to take care of your future self, protect the people you care about, and add stability to your financial plan.
You don’t have to do it alone. Talk with the experienced agents at Brooks, Todd & McNeil. We’ll help you compare options, clarify your goals, and choose coverage that fits your life today — and tomorrow.
FAQ About Life Insurance for Millennials and Gen Z
Do I really need life insurance if I’m single and healthy?
Yes. You’ll never be younger or healthier than you are now, which means your rates will never be lower. It’s also about future-proofing your financial security.
Isn’t it expensive?
Not for most young adults. A basic term policy often costs under $25 a month, less than a couple of takeout meals.
What if I don’t understand all the details?
That’s what licensed agents are for. A good agent will explain everything in plain English and help you make confident decisions.
About Brooks, Todd & McNeil
Since 1839, the independent agents at Brooks, Todd & McNeil have proudly offered our community policies from a range of top providers. To learn more, call us today at (800) 448-4567.