When you’re young and healthy, it’s easy to assume you don’t need life insurance. A lot of millennials are having families, buying homes, and entering the workforce later in life, so it does make sense that they’re also waiting to buy life insurance. Many millennials assume that life insurance is expensive, and don’t view see it as being as important as other expenses. However, there are some good reasons to consider it.

If you’re not sure if you need life insurance, or aren’t sure if you can afford it, you can seek help from companies like Primerica.

People Depend On You

A lot of younger people think they don’t need life insurance if they don’t have children. Even if you don’t have any yet, or don’t plan to have them in the future, there will still be people who depend on you. Without children, your life insurance can replace your income to help your spouse or long-term partner with costs like the mortgage on and upkeep of a home you own together.

If you’re single, think about those left behind, like parents or siblings, who would have to cover your debts, funeral, or burial expenses. Life insurance could cover these costs.

It’s More Affordable When You’re Young and Healthy

Life insurance premiums usually depend on risk. A healthy, younger person is usually at a lower risk for life insurance, so you’re more likely to get an affordable life insurance policy.

If you’re healthy, with no pre-existing conditions, and don’t smoke, you might be pleasantly surprised by affordable life insurance policies can be now instead of waiting until you’re older.

Consider Your Cosigners

If you were to die, some debts, like student loans, are automatically waived. However, some millennials have loans, credit cards, and mortgages co-signed by parents. If you die, these co-signers are responsible for your remaining debt.

A life insurance policy could be used to help those co-signers to settle your debts. For example, if your parents co-signed on your credit card, and are your beneficiaries, they will get your death benefit and can use it to pay off that credit card when you pass, without ending up out of pocket themselves. Without this benefit, they have to cover those debts. If they can’t, their credit score could be impacted.

Paying for Funeral Expenses

Even if you don’t leave any dependents behind and don’t have any debts to settle, there will still be someone who has to cover costs like your funeral and burial or cremation. The average funeral can cost up to $8000, and that’s without extra additions like a viewing.

Someone you leave behind, perhaps a spouse, parent, or sibling, will have to cover all these costs, which can soon mount up. A life insurance policy can help to pay for these costs. If you can’t afford full coverage, you could consider a smaller burial policy that will pay out a lower death benefit, but that has a more affordable monthly premium and can cover some of your funeral costs.