A. You need to keep a cool mind!
Life insurance premium is certainly very low for a young and healthy person like you, but you need to understand the reason one needs life insurance - to protect their loved ones when accidents happen to them.
If no one relies on your to live, it's best for you to put your money into your retirement account instead of a life insurance account.
Some insurance companies try to sell life insurance to students who have student loans. The premise is if anything happens to the student, the parents who co-sign the student loan will be forced to pay back the student loan. With the student's life insurance policy in effect, the parents won't have the burden to pay back the student loan. But this is a complicated matter, a student loan holder should find out what's the provision of the Federal financial aid, especially if the student dies, will the parents be forced to carry the loan or the loan will automatically dissolve with the student's death?
The only time I recommend a young person to consider a life insurance is for someone who is healthy but with family medical histories which means the insurance premium will likely to jump if such person applies for life insurance later.
In any case, just get a low cost Term life, don't over pay for anything else!