It is true that life insurance is cheaper when you are young, but then so are dentures!  But you wouldn’t buy those until you really needed them.  This myth that life insurance was needed was started because life insurance cost is cheaper per year when you are young because your chances of dying are lower.  However, the total amount you pay over the life of the policy is not cheaper!  It couldn’t be.  If say, you buy life insurance for $100 a year at the age of 25 and your friend waits until the age of 35 and has to pay $110 a year for the same coverage.  Now you are both 35 and you pay $10 less per year – but how about the $1000 that you paid for the ten years that you didn’t need it?  The best advice is to not buy life insurance until you actually need it.