However, your life insurance needs will depend on your situation in life. Who relies on you for financial support and how long your financial support may continue.
For example, many young people choose to buy a 20 or 30 years term life insurance policy to provide financial protection for their family if they have a spouse, children, a home, or debt.
Also, the younger you are when you buy your term life policy, the lower your rate, so you can get more life insurance at a lower price than if you waited several years to buy your policy.
You have an option of buying renewable term life insurance which means you may renew your term life policy at expiration for an additional 10 years without having to take a physical exam to qualify. However, your rate at renewal will be based on your age at that time.
In addition, having your own individual term life policy now means you won't have to being out of work without any life insurance benefits from your job.
If you have a need for life insurance and realize term life meets those needs, then now is the time to compare term life insurance rates and plans and get your term life policy.