Why Would A College Student Purchase Life Insurance? 
Many college students today are in a position of having to take out thousands of dollars in student loans in order to finance their educations . In many instances , parents are co-signers on these loans . In the event of the college student 's untimely death , parents might not only have to grieve the loss of their son or daughter , but also have to deal with repayment of the student 's debt . To me this , together with the cost of final expenses -LRB- funeral , unpaid medical bills , etc. -RRB- , is the most obvious reason to purchase life insurance coverage - so that in the event of death , your loved ones wo n't have to be burdened with raising the funds to repay the debt . Another reason to go ahead and buy life insurance is that in all likelihood , the cost of the insurance will never be lower . Life insurance is age-rated . Assuming that you are in good health , do n't smoke , etc. , a college student can buy term life insurance coverage very , very affordably - under $ 200 per year for $ 100,000 of coverage is common . You can even lock in that low premium for up to 30-years with many life insurers . 