Life insurance at every age
If you're wondering when to get life insurance, there's no better time than today. Let's take a look at how your life insurance needs may differ by age.
Life insurance is a key component of your personal financial plan, which means it should grow with you. You may start off with a small policy in your 20s, but you'll likely want to expand your coverage throughout your life. Here are a few ideas to consider.
Life insurance in your 20s
When you're a young adult, life insurance probably isn't top of mind, but it's the best time to get coverage. Since you're young and likely healthy, you'll typically qualify for more affordable premiums.
Life insurance in your 30s
By the time you're 30, you may have children and a mortgage, which makes the financial protection offered by life insurance more important than ever. Remember to account for your children's education costs in your life insurance coverage in case you pass away. If you find yourself underinsured, don't wait until you get older to bolster your coverage — rates typically rise with age.
Life insurance in your 40s and 50s
When you reach your 40s and 50s, your career is likely more stable than in previous stages of life, and your children may be nearing college age.
Life insurance in your 60s and beyond
As you approach retirement, life insurance can help you leave a legacy for your beneficiaries, and it can be a useful tool in estate planning.
Learn more
It's a good idea to revisit your coverage whenever you experience any significant life event that affects your finances, such as buying a home, getting married or having children. We encourage you to learn more and discuss your unique needs with your local State Farm® agent.
Get a quote for life insurance — if you're interested in additional life insurance products, please contact your local State Farm agent.
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Take a closer look
Closing text - Here's how your life insurance needs may vary by age and stage of life.
IN YOUR 20s
GET COVERAGE
As a young adult, life insurance probably isn't top of mind, but it's the best time to get coverage
YOUNG & HEALTHY
Since you're young and likely healthy, you'll typically qualify for more affordable premiums
LIFE EXPECTANCY
As a young adult, you have a relatively longer life expectancy, making you less of a risk to insure
IN YOUR 30s
EXPANDING LIFE
By the time you're 30, you may have children and a mortgage
PROTECTION
Life insurance helps provide financial protection for your loved ones
REVISIT COVERAGE
Any time you experience life changes, such as marriage or kids, you should evaluate your coverage
IN YOUR 40s AND 50s
CAREER STABILITY
When you reach your 40s and 50s, your career is likely more stable than in previous stages of life
COLLEGE EXPENSES
Account for your children's education costs in your life insurance coverage in case you pass away
RE-EVALUATE YOUR NEEDS
If you find yourself underinsured, don't wait until you get older to bolster your coverage — rates typically rise with age
IN YOUR 60s AND BEYOND
RETIREMENT
As you approach retirement, remember to evaluate your ongoing need for life insurance
ESTATE PLANNING
Life insurance can be a useful tool in estate planning
LEAVE A LEGACY
Life insurance can help you leave a legacy for your beneficiaries
For more ways to utilize life insurance as a retirement planning tool, visit statefarm.com/simple-insights.
