5 Reasons You Need Life Insurance Right Now There's no better time to prepare yourself-and your loved ones-for what lies ahead.

You're young. You're healthy. You don't need life insurance, right?

Actually, you might want to re-think that conclusion. No matter your age, no matter whether you're a business owner or an employee working for one, life insurance is crucial.

Say, for example, you're married with children and want to provide for them after you're gone. Or, as a business owner, you have debt that could wind up haunting your survivors. Or, quite possibly, you want to make sure your personal debts are paid off upon your death.

Below are five reasons why getting life insurance is a smart decision. If any or all of these apply, you'll want to speak with a life insurance agent today.

1. You're young and healthy (it's the best time to get insurance).

Waiting to set up life insurance will cost you. The younger you start, the lower your premiums will be, which will lead to monthly savings that will add up over time. Even if you're no longer in your 20s or 30s, you'll get better rates today than you will a decade years from now.

With age comes increasing risk of health issues, which can boost premiums significantly. Signing up now, before such issues strike, can lock in low premiums that will stay in place even after you begin experiencing health problems.

2. You don't want to leave your loved ones with debt.

Whether you have children, significant others, close relatives like parents, or a combination of some or all of the above, your death would be emotionally devastating to all involved. It can be financially devastating, too, especially if your income is a substantial part of your family's household budget.

By having life insurance in place, you'll ensure your loved ones will have the financial support necessary to continue to pay for housing, food, and other monthly expenses. If you own a business, life insurance could ensure operations continue in your absence, removing that burden from your family as well. Use a life insurance calculator to determine exactly the amount your family will need to manage everything in the months and years following your absence.

3. You want to take care of your funeral.

In the days following a death, loved ones are forced to make some difficult decisions. Those who suffer from long-term illnesses prior to death can sometimes make their own funeral arrangements, but often the closest relatives are tasked with planning the details. Added to this is the stress of paying between $7,000 and $10,000 for the main costs associated with a standard funeral. Life insurance can take care of those expenses to avoid putting one more stressor on already distraught family members.

4. You have a busy schedule.

Often people put off researching life insurance because they assume the process will be complicated and time consuming. Yet, once they dive in, they're usually surprised how simple it is.

Most life insurance can be purchased online, with a cost calculator letting you know how much you'll pay in premiums before you start the sign-up process. Depending on your age, lifestyle choices, and the amount of insurance you choose, you'll usually find premiums are much less expensive than you expected. If a physical is required, a medical practitioner will usually come to your house and take blood and urine samples in a process that takes only 15 minutes.

5. You worry about your unexpected death.

The biggest benefit to life insurance comes from the peace of mind it gives you. Once you have it in place, you no longer need to worry about a sudden health incident or an accidental death. You'll know your family will have the money they need to move forward.

There are multiple types of life insurance, including permanent insurance that pays a set amount when someone dies and term policies that pay out if a person dies within a period of time that is outlined in the policy. Learn as much as possible about the terms of each policy so that you can make the decision that is best for your circumstances.

With life insurance, it's important to act quickly, since premiums increase with age. Consult a qualified agent if you aren't sure how much coverage you'll need to protect your loved ones if something happens to you. Once you have coverage in place, you'll be able to rest easily, knowing that your family will be taken care of in the event of your sudden death.

For more information about life insurance options from Entrepreneur Insurance, visit entrepreneur.com/lifeinsurance.