Everyone dies, but what are the chances of dying young? Turns out if you live in America, the chances are higher than you might think. For every 100,000 people aged 10-24, 59 will die. Traffic accidents and violence being the top causes, leading the developed world in mortality rates, followed by suicide and various other causes.
So before you shout YOLO and have someone hold your beer, take a step back and think about it. Life insurance is an investment that's best made young. Premiums are based on your age at the time of your application and rates skyrocket once you're diagnosed with a medical condition. Young people who get life insurance can save hundreds of dollars every year for decades if they apply before they have a family. This makes the most sense especially if you're planning on having a family in the future and want to keep costs low during those years. If you were to die, life insurance could cover the cost of student and car loans, credit card debt and bail money borrowed from friends that one time.
Check out this infographic presented by InsuranceQuotes.com for more on what life insurance means for young people.