Othneil Blagrove, Chief of Sales and Marketing at JN Life Insurance, is urging young adults to consider purchasing life insurance as early as possible due to its numerous benefits. According to Blagrove, life insurance is a powerful financial tool that benefits individuals across all age groups, but buying it early in life offers unparalleled advantages. “Life insurance is a crucial component of any sound financial plan,” Blagrove emphasized. “The earlier you start, the greater the benefits you’ll reap.”
Blagrove highlighted that products such as term life and whole life insurance are particularly well-suited for young adults. One of the major advantages of purchasing life insurance early is that premiums are typically lower because insurers assume that you’re at your healthiest during your younger years. Additionally, term life insurance provides flexible options for the future. “With term life, a young person can secure coverage for a specific period and later convert it to a whole life policy or increase coverage as their needs evolve,” Blagrove explained. “If something unfortunate happens during the term, the death benefit can help cover final expenses or support loved ones financially.”
Another significant benefit for younger adults is the ability to increase coverage without undergoing a new medical exam. “Many permanent policies allow for the addition of a guaranteed insurability rider,” Blagrove noted. “This means you can increase your coverage later in life without needing to prove you’re still healthy, which is particularly beneficial if hereditary conditions may develop over time.”
For young policyholders, the death benefit lasts longer, potentially serving as a meaningful legacy for loved ones. Even if you don’t yet have a family or dependents, life insurance allows you to name a charity or philanthropic cause as your beneficiary. It also plays a key role in retirement planning through the power of cash value accumulation. “When you purchase a permanent policy in your 20s, you give your investment decades to grow,” Blagrove said. “The compounding effect can create hundreds of thousands of dollars in future tax-free income – funds that you can access during your lifetime or leave behind for your beneficiaries.”
Moreover, life insurance supports financial goal setting. “If you plan to buy a home, get married, start a family, or even take a dream vacation, insurance can support these milestones,” Blagrove advised. Policies like the JN Life Vest offer an investment component that grows alongside your coverage, allowing you to build a portfolio that supports major life goals.
While some may hesitate to purchase life insurance due to the cost, Blagrove strongly encourages young adults to look beyond short-term limitations. “People often argue that premium payments could be used elsewhere, especially at the start of your career when income may be limited. However, the longer you delay, the higher your premiums may become, and the harder it might be to qualify,” he cautioned. His advice is to sit with a financial advisor, review your expenses, and identify a policy that aligns with your goals. “Life is unpredictable, and the last thing you want is to face the unexpected loss of a loved one without the financial means to manage final expenses. Insurance is peace of mind – get it early.”
