However, most individuals under age 25 are more concerned with paying current bills than acquiring additional ones.
While the optimal age to purchase life insurance is under 35, millennials are the least likely to purchase a policy.
In 2015, individuals between 18 and 35 overestimated the cost of a life insurance policy by 213%.
Among the 57% of U.S. citizens who own life insurance, more than half of those policyholders are age 45 or older.
With marital rates decreasing 21% from 1960 to 2010, life insurance policy purchases are being delayed despite the inherent advantages of buying at a younger age.