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To Be Responsible In Your 30s, Do This.

26: The average age women have their first child*
27: The average age women get married
29: The average age men get married
33: The average age Americans buy their first homes
36: The average age of a Haven Term life insurance policy owner

financial milestones in your 30s

26: The average age women have their first child*
27: The average age women get married
29: The average age men get married
33: The average age Americans buy their first homes
35: The average age of a Haven Term life insurance policy owner

The late twenties are a pivotal time in life. You have children. You get married. Overall, you start building a life and family of your own. Or, if you haven’t decided to take the plunge into marriage and children yet, you’re likely working toward buying your first home and achieving financial security and independence. All significant milestones with equal importance.

But what also can be gathered from the above stats is this: In your 30s, you have a boatload of personal and financial responsibilities. Responsibilities that would potentially be unmet if you were to die suddenly.

Imagining your demise can be unsettling. You probably have big plans for life and your 30s, after all. But the good news is that planning for death doesn’t make it happen any sooner. And it can leave you with the peace of mind that everyone is cared for.

When you have people who rely on you for financial support or to pay your portion of the bills, the responsible thing to do is to consider buying life insurance.

You might need life insurance in your 30s if:

You’re Married

Marriage alone doesn’t create a need for life insurance. But some might argue it’s the considerate thing to do for your spouse to leave a legacy and reduce the financial burden of an unexpected death.

What constitutes a real need for life insurance, though, is if you and your partner have bills or cosigned debts that neither of you could cover solo. For example, a mortgage or maybe even wedding or honeymoon debt. Heck, if you live in a city life San Francisco or New York, it might even be rent that requires dual incomes to afford.

Sure, the surviving spouse could move in with family or friends, but your partner shouldn’t need to do so to stay financially afloat. This article makes a good case for why a spouse might not be ready to leave a home after death.

Also remember, life insurance pricing is more affordable the younger and healthier you are. Doesn’t hurt to lock in a lower rate before…

Life insurance needs aren't one-size-fits-all.

Calculate your needs

You Have A Child

Having a child is often one of the top reasons people buy life insurance. In fact, it’s why our founder and CEO Yaron Ben-Zvi purchased a policy. He and his wife were expecting their first child.

Children have a way of making you aware of your mortality and everything you need to provide for the people you love most. You want to ensure they’re protected should you die, and that your partner has the financial resources to continue paying the day-to-day bills and also to prepare for the bigger things in life: like your children getting married and going to college.

Life insurance policies, for both of you, can help meet those financial obligations with as little stress as possible.

You’re Single

This is not the part where we tell you everyone needs life insurance. But, it is the part where we say that financial dependents come in all shapes and sizes. It’s not just your partner and children.

Americans are in a record amount of student loan debt. More than $1.3 trillion dollars in student debt is owed, to be exact. Most federal student loan debt is forgiven in the event of death. However, not all private student loans work this way. If you have private loans, your co-signer, typically a parent, could be left with those debts if you died. The same goes for any other cosigned loans, such as a mortgage.

Parents shouldn’t be left to mourn their child while simultaneously paying off loans that have been passed on. Make sure you know where your debt would go if you died and if you need to protect cosigners financially. It’s the right thing to do.

Taking debts out of the equation, some people don’t want to get married or have children. That’s OK, and many could argue, a positive, self-reflective decision on its own. However, if you want to remain single and free of obligations, do you have plans to be the greatest aunt or uncle ever to your sibling’s or close friend’s children? Life insurance doesn’t need to be used only for financial obligations. It can also be used to leave behind a legacy to the ones you love.

Do You Want to Leave a Legacy?

Your 30s are a defining decade personally, professionally and financially. For most people, it’s a time when you start to realize fully the magnitude of having individuals who rely on you.

No matter your particular need for life insurance, it has one central purpose: leaving behind a positive legacy after you’re gone.

What will be your legacy?

Life insurance is more affordable than you think

Get your free quote

*Statistic sources in the order at which they appear:
http://www.npr.org/sections/health-shots/2016/01/14/462816458/average-age-of-first-time-moms-keeps-climbing-in-the-u-s
http://www.theatlantic.com/sexes/archive/2013/03/getting-married-later-is-great-for-college-educated-women/274040/
http://www.theatlantic.com/business/archive/2014/10/what-will-it-take-for-millennials-to-become-homeowners/381730/
Haven Life internal research

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About Brittney Burgett

Brittney Burgett is the marketing and communications director at Haven Life, a customer-centric life insurance agency backed and wholly owned by MassMutual. She joined the startup more than five years ago as one of the first ten employees and oversees external communications, content, SEO and various other growth marketing initiatives. Brittney is a passionate leader who believes that managing your financial life doesn't need to be intimidating or complicated and brings that philosophy to all the editorial and brand work at Haven Life. Prior to her role at Haven Life, Brittney worked in public relations, her client list included brands in the tech, food and nutrition spaces.

Read more by Brittney Burgett

Our editorial policy

Haven Life is a customer-centric life insurance agency that’s backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe navigating decisions about life insurance, your personal finances and overall wellness can be refreshingly simple.

Our editorial policy

Haven Life is a customer centric life insurance agency that’s backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe navigating decisions about life insurance, your personal finances and overall wellness can be refreshingly simple.

Our content is created for educational purposes only. Haven Life does not endorse the companies, products, services or strategies discussed here, but we hope they can make your life a little less hard if they are a fit for your situation.

Haven Life is not authorized to give tax, legal or investment advice. This material is not intended to provide, and should not be relied on for tax, legal, or investment advice. Individuals are encouraged to seed advice from their own tax or legal counsel.

Our disclosures

Haven Term is a Term Life Insurance Policy (DTC and ICC17DTC in certain states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and offered exclusively through Haven Life Insurance Agency, LLC. In NY, Haven Term is DTC-NY 1017. In CA, Haven Term is DTC-CA 042017. Haven Term Simplified is a Simplified Issue Term Life Insurance Policy (ICC19PCM-SI 0819 in certain states, including NC) issued by the C.M. Life Insurance Company, Enfield, CT 06082. Policy and rider form numbers and features may vary by state and may not be available in all states. Our Agency license number in California is OK71922 and in Arkansas 100139527.

MassMutual is rated by A.M. Best Company as A++ (Superior; Top category of 15). The rating is as of Aril 1, 2020 and is subject to change. MassMutual has received different ratings from other rating agencies.

Haven Life Plus (Plus) is the marketing name for the Plus rider, which is included as part of the Haven Term policy and offers access to additional services and benefits at no cost or at a discount. The rider is not available in every state and is subject to change at any time. Neither Haven Life nor MassMutual are responsible for the provision of the benefits and services made accessible under the Plus Rider, which are provided by third party vendors (partners). For more information about Haven Life Plus, please visit: https://havenlife.com/plus.html

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