Darcy Bergen Shares Why People Should Consider Life Insurance in Their 20s

Darcy Bergen

December 9, 2019

Darcy Bergen has over 20 years of experience as a financial planner helping his clients plan for retirement and other financial needs. He is also the owner of Bergen Financial Group and has experience working with clients who have various financial concerns. Although many clients contemplating retirement inquire about life insurance, Darcy Bergen believes people in their 20s should also be thinking about it.

They Have Debts

Although it’s hard to imagine people in their 20s have a lot of debts versus someone in their 40s, many young people graduate college with a significant amount of debt. On average, college students graduate with an average of $29,800 in debtDarcy Bergen mentions that student loans are not the only debts millennials have to deal with. Most adults in their 20s have car loans, credit card debt, and even personal loans.

Young people figure they will live a long time and be able to pay off their debts, but for some, this is not the case. If someone dies, the debts don’t just disappear. Many can leave their family members to pay the bill. If someone in their twenties has a lot of debts, Darcy Bergen explains it might not be a bad idea to get a life insurance policy. Depending on the policy, someone in their 20s who is healthy can get a $200,000 term life insurance policy for 20 years.


The average marriage age in the United States is 27.8 for women and 29.8 for men. Based on these statistics, there are plenty of people in their 20s who are married. If someone is married in their 20s or at any age, Darcy Bergen explains getting a life insurance policy is a smart idea.

When a spouse passes away, there’s no way of telling what the economic impact will be on the spouse. Married couples often have many expenses together, such as mortgages, car loans, credit cards, and other debts. Taking a life insurance policy in your 20s is one of the best ways for a spouse to protect each other financially.


If a person is in their 20s and has children, Darcy Bergen suggests they look into a life insurance policy. For example, taking out a 20-year term life insurance plan when a child is born or a few years old will leave them with protection until they’re in their late 20s. No parent wants to imagine leaving their child unprotected in case of the imaginable. The younger and healthier the parent is, the better policy they can get to protect their children.

For more of Darcy Bergen’s financial tips on life insurance and other concerns, check out darcybergen.co.