I disagree with Dave. Everyone should start a permanent life insurance program out of college. The better mutual companies such as Northwestern Mutual and New York Life pay tax-free dividends of 6 to 7 percent right now. I hear advice from people saying buy 20 year term. Unfortunately, when that expires you still need life insurance and now term gets so high in price most people drop it, and term companies only have about 3 percent of the death claims. Ask successful people you know and you will be amazed the sharpest people that own one of these two companies for additional retirement income from the cash, or the death benefit if still needed. To gamble with your insurability and not at least buy a convertible term policy is a terrible decision. Not what the talking media heads say, I know, but most of them do not know how great the policies are from a company like Northwestern Mutual.