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When should I buy Life Insurance?

By May 20, 2019 May 29th, 2019 Personal Insurance

When is the BEST time to buy life insurance?

The simplest answer is: before it’s too late.

And that doesn’t always mean before a loss happens.

There are actually other life events that may make you uninsurable. Did you know that a second heart-attack or a diagnosis of a terminal illness, such as certain kinds of cancer could leave you uninsurable? If you find yourself having a major unfortunate life event, you might be wishing you’d have made the decision to protect yourself sooner.

Another factor to think about is price. How much can you afford to spend on life insurance?
Did you know that life insurance is an age-based product? That means the younger you are when purchasing a policy, the more affordable it will be. The policy that you would purchase in your mid thirties could be up to 300% more expensive if you wait until your mid fifties to buy the exact same policy.  The cheapest life insurance is the insurance that’s bought before you need it. It’s not a death policy; it’s an investment.

However, don’t be discouraged. It’s almost never too late, and there are products available for almost everyone. Seniors, if you’re under the age of 80, there’s a product available for you and you need an agency that will gladly give you a quote and help you to pick the very best policy available; you deserve the best coverage and security available.

Now, losses do happen. There is an obituary section in the newspaper, and there is something printed in it every single day. What would your family do if you passed away? If your spouse passed away, would you survive? Could you and your children thrive? Would you be able to continue to live the life you are accustomed if the unthinkable became a reality? If you have a family that you care about, life insurance should be on the top of your priority list.

And the time to purchase is NOW.

Life insurance can be intimidating. You should understand all of your coverage options, and it starts with finding an agency eager to help you become informed about your investment.