I disagree about not having life insurance when you are single with no dependents.
Life insurance rates are calculated based on "morbidity table" which is statistics compiled by insurance carriers on death probability based on a number of factors. Now, the younger the person is, the lower the probability to die hence the lower the rate.
With a term life insurance you can lock in a rate for 5, 10, 20, 30 and 40 years (depending on carrier), meaning the rate will not go up regardless of any illness etc.
so lets say a person is 20 y.o. single with no dependents. If they get term life insurance for 30 years and the premium is $1000 a year that person will pay that premium for 30 years. And when they are 50 if they invested well and kids are grown they can become self insured and not renew for another term (obviously at much higher rate).
I think life insurance should be gotten around twenties when the person is still completely healthy and can benefit from lower rate.
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