Lots of millennials think about life insurance when kids come along, but you shouldn’t wait. Your insurance premium will be lowest while you’re young, and getting it now will ensure you lock in a great rate. After you turn 35, your age will become a factor and your premiums will go up if you don’t already have insurance. Even if you’re not considering having kids for a while, make this part of your life plan. You’ll be glad you did when those children arrive and you’ve already got a great life insurance policy in your back pocket.

So who should be the beneficiary of your loan? Before you’re married, you can list your parents or siblings. You can always update your beneficiary information as your life changes, like getting married and having kids. If you have student loan debt and nobody cosigned the loans for you, a life insurance policy will waive the remaining debt when you die. Your beneficiaries will not have to pay it. So, if you went to medical school or law school and have big debts hanging over you, make sure your kids don’t inherit those.

Nobody wants to believe that they’ll leave their children before old age. Unfortunately, it’s something everyone needs to think about. Learn about the benefits of life insurance and bust any myths you may believe by taking the Health IQ Quiz. It’ll explain the benefits to getting an insurance policy while you’re young and correct any holes or misconceptions in your current insurance knowledge.