Life insurance may not feel like a priority when you’re young, but having this benefit can help protect your loved ones if the unexpected happens. Life insurance can assist with any outstanding bills — such as rent, a mortgage, car payments, or credit card debt — as well as funeral costs. You should take any student loan debt or other major expenses into consideration to help determine how much life insurance you need. , but the policy may not be portable if you change jobs. When looking for a new job, be sure to ask your employer about what type of life insurance they offer.