Life insurance is important for all ages, whether it is a kid of 1 year old or a senior citizen of 70 years of age. If you are getting life insurance it is important to get in the early age because your premium cost will be lower and your benefits are higher. Some people consider insurance to be a financial burden because depending on the policy you will have to pay for many years (term life) or life time (whole life). Let’s s you bought a 20 years term life insurance policy, now you will have to pay the premium for 20 years, or if you bought a whole life insurance at 30, you will end up paying premiums until you live. Paying premiums is certainly challenging, however, the benefits are simply great.