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Your Financial Life
By David Dorion / Dec 23, 2015

4 Reasons to Buy Life Insurance in Your 30s

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By the time you are in your 30s, you might already be established in your career, you may be married and you might’ve already started a family. If you fall into this category, and did not purchase life insurance while in your 20s, now might be the perfect time for you do so, especially if you have people who depend on you. Consider the following four reasons to acquire life insurance in your 30s.

1. You are probably less invincible in your 30s than you were in your 20s.

You may have been very carefree in your 20s, but as you entered your 30s, you may have experienced some big life changes. These changes come with responsibilities. The truth is that the unexpected can happen, and life insurance can help you and those close to you prepare for whatever the unexpected might bring.

2. How life insurance can protect your loved ones while in your 30s.

If you were recently married and are beginning to start a family, your spouse and children will need adequate coverage should something happen to you. Life insurance can help your loved ones stay in the family home, or assist your kids with college tuition, in case you can no longer provide for them.

3. Insurance in your 30s can be very affordable.

While life insurance may not be as inexpensive as it might have been while you were in your 20s, there is a strong chance life insurance will cost you less than it will once you hit your 40s. In short, life insurance tends to get more expensive as a person ages. This can be due to the fact that as a person ages, their health may decline, shortening their life expectancy. With declining health and a shortening lifespan, a person’s policy is more likely to pay out. On the contrary, obtaining life insurance while in your 30s, can give you a distinct advantage in that you more than likely will pay lower premiums than if you wait until you are older.

4. Consider the debt from your 20s.

For many of us, bills from our 20s last well into our 30s and beyond. Some expenses, like car loans and mortgages, require monthly payments. Even if you are keeping up with your family’s outstanding loans, having life insurance in place can help provide assurance that your loved ones won’t be burdened by outstanding debt.

Protection: That is what life insurance is about. And as you grow in your career and relationships, buy a house and start a family, protection becomes more important to you and those who depend on you. For more information on life insurance, and the various policies we offer, contact one of our life insurance professionals.

Insurance products and services are offered or issued by Transamerica Life Insurance Company, Cedar Rapids, IA; Transamerica Financial Life Insurance Company, Harrison, NY (licensed in New York); Transamerica Advisors Life Insurance Company, Little Rock, AR; Transamerica Premier Life Insurance Company, Cedar Rapids, IA; Stonebridge Life Insurance Company, Rutland, VT; and Transamerica Casualty Insurance Company, Columbus, OH. Variable products and mutual funds are underwritten and distributed by Transamerica Capital, Inc., or Transamerica Investors Securities Corporation, each a broker/dealer and member of FINRA. Securities and investment advisory services offered by Transamerica Financial Advisors, Inc., a broker/dealer, member of FINRA, SIPC and a Registered Investment Adviser. Investment advisory services focused on the unique needs of individual retirees, retirement plans and their participants offered by Transamerica Retirement Advisors, Inc., a Registered Investment Adviser. References to Transamerica on this site pertain either to an individual company or collectively to these and other Transamerica companies. This site may not yet be approved by the Departments of Insurance in all states at the time of publication. Transamerica companies are part of the AEGON Group. Copyright 2011 – 2015 Transamerica Corporation, 4333 Edgewood Road NE, Cedar Rapids, IA 52499—All Rights Reserved.

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