Furthermore, your health and wellness are not guaranteed. Another poster above mentioned finding out he had diabetes that jacked up his rates. If you see needing it later, there is no reason to wait. Someone your age can probably get 500k of insurance for 25/month. The insurance will be locked in and no one can take that away from you.

Someone else had mentioned cancer policies and I wanted to comment on those and Accidental Death and Dismemberment policies. They suck. They are inexpensive life insurance policies with tons of loop holes. You have to die certain ways for them to do anything for your family. They draw people in with slogans like ‘no medical exam required’, ‘everyone qualifies’. My mom had taken out a couple of them offered by her bank and we went through them one day only to find out that she had to die from being abducted by aliens for the policy to pay out. Ok maybe it wasn’t that silly, but close. For example, my dad died of cancer, but on the death certificate, it says he died of a pneumonia – there is the loophole.

And people think they lead conservative lives and don’t realize the risk that is out there everyday. Over the weekend I witnessed a bad car wreck, someone got rear ended at freeway speeds because someone else wasn’t paying attention. I’d be willing to bet that if the guy that got rear ended was hurt, he would wish he had bought every insurance policy available the day before. That’s where insurance gets us, you don’t get anything tangible for your purchase, you have to buy it when you don’t need it, and when you do need it (your sick, hurt or dieing), you can’t get it.