6 legitimate reasons to buy life insurance in your thirties

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6 legitimate reasons to buy life insurance in your thirties

See how we're different

You might not be thinking about buying life insurance in your 30s, but you may be surprised to find out that your 30s can often be one of the most practical, impactful and affordable times to secure coverage. Trust us, your forty-year-old self will thank you for not putting this off.

Life insurance provides a financial safety net for your family especially if they are financially dependent on you, like a spouse or child.

Most of us would like to leave a legacy to those we love or to causes that we care about. And that answer holds true whether you are single, married or have kids. Life insurance can help you achieve that mission.

Below you will find 6 legitimate reasons why you should consider purchasing life insurance in your 30s.


1. Buying Life Insurance Early Means Paying Lower Premiums


While healthy lifestyle choices, like abstaining from smoking and exercising, play some part in how a policy rate is determined, the truth is that the age you are when you buy a policy impact pricing substantially.

Let’s give you an actual example. So a healthy 35-year-old man can purchase a 30-year, $1,000,000 Pawsonˇ Insurance policy issued by The Hartford for about $68 per month. If he waits until 45 to buy a policy, the starting price for the same amount of coverage would be $160 per month.

Another example, yet unfortunate, but realistic could play out like this; if you undergo a medical checkup and it reveals you have a certain disease due to your lifestyle, the insurance company may decline your request to buy life insurance.

The risk of the insurance company rejecting your request for life insurance due a disease you developed due to your lifestyle will be higher if you apply for life insurance in your 40s for instance.


2. Offers Your Family or Future Family Financial Protection


Many people are married and planning for kids by their 30s. It’s a decade where a lot can happen within a short period of time.

Buying life insurance, even if you don’t have kids, can help ensure that your spouse has a financial cushion from the unexpected. You will also have peace of mind in knowing that your partner can cover many debts and day-to-day expenses if you were no longer around.

Financially protecting children you don’t have yet may seem like an abstract concept. However, the moment you lay eyes on your child, reality and the need to protect firmly takes hold. But, you don’t have to wait until the day your child is born to get adequate life insurance coverage.


3. Tax Benefits


Tax-saving is also one of the benefits of buying a life policy. Life insurance policies transfer wealth to beneficiaries through the death benefits paid out when an insured dies.

Over the years Congress created the federal estate, gift, and generation-skipping transfer taxes to the Internal Revenue Code to tax and regulate the transfer of wealth. Each of these taxes gives insureds opportunities for life insurance to pass on wealth to family members with favorable results.


4. Protect Loved Ones and Co-signers from Debt


Most of us have taken out student loans, mortgage, car loans, and credit card debt by the time we’re in our 30s, and after your demise, these don’t go away. Your loved ones and co-signers will have to deal with your debt after your death, thus placing a significant financial burden on them.

If you are in your 30s and have one or more loans that you have taken out and are still paying them, you need to take out life insurance. Your loved ones and co-signers can pay for the loans you have taken out after you pass away from the money they receive from your life insurance policy.


5. To Cover Your Burial Expenses


Your funeral is not something anyone ever likes to think about. But for a moment, consider this: the average burial now costs around $7,000 to $10,000. Imagine your family members having to deal with that expense at the same time they are grieving your death?

If you didn’t have life insurance, your spouse or other immediate family members would need to come up with the cash to pay these expenses at the same time they’re grieving your death. Far from ideal.


6. Protect Your Business


If you have run a business, you should highlight consider life insurance. Life insurance is important for you to get if you operate a business for several reasons. For instance, you are in the business of buying and selling real estate. Let’s say you’re in the middle of a deal and you pass away.

Your family will be at a loss. If you have life insurance, the proceeds from it can help your family operate your business in your absence. You don’t have to worry about them struggling to earn money after your passing, as your business will still help them earn money.

Apart from life insurance, what other types of insurance should you buy? Here’s a list of the different types of insurance you can buy in your 30s:




One of the primary reasons why a person decides to obtain insurance is to protect their finances. When it comes down to buying life insurance in your 30s, remember, you’re not doing this just for yourself, but also for your family. When you’re buying life insurance, you’re putting your family first, as it is one of the most selfless things a person can do.

The last thing you want is to have the thought of your family struggling to make ends meet. If you are in your 30s or are approaching your 30s, consider all the benefits you’ll receive if you obtain life insurance.

Questions? We’re here to help!


We hope you found this article helpful. If you need to speak with an agent, please feel free to use the chat feature in the bottom left-hand corner or contact us at 203-481-8898.

If you’d like to get an life insurance quote please visit our Life Insurance page for more information about how we found the insurance policies for our clients for over 30 years.

We find you the best and most affordable insurance. See how we're different.

We find you the best and most affordable insurance. See how we're different.

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