When should you buy life insurance? This is one of the more common life insurance questions we receive.
We’ll be the first to admit it, buying a life insurance policy isn’t glamorous. Most of us our busy investing in more tangible things like a new car, home or that next vacation. Honestly, who wants to think about dying? Most of us are focused on living life to the fullest, as we should be.
But sometimes thinking a head isn’t a bad idea. If you have loved ones that rely on you and the income your job provides, life insurance can and should be a great option to bring peace of mind to your family. Sometimes just taking a few minutes to compare life insurance quotes will help you realize how easy and affordable these policies can be to buy.
Here are three things you should remember when trying to decide the right time to purchase a cheap life insurance policy:
1. Your age.
You’re never to young to start thinking about a life insurance policy. If you have an established career with benefits, than that is the best time to look into a life insurance policy. In fact, the younger you are the better deal you can potentially get from a quality company.
Let’s say you’re in your 30’s and relatively healthy. If you decide to invest in a 30 year term life insurance policy, you can purchase a policy and basically have the same one until you are close to retirement. Many times you are locked into a great rate that literally can cost you less than money than you pay for your cable.
2. Your health.
Let’s face it, we all take our health for granted. When it comes to buying life insurance there is no better time to shop around then when you are healthy! Why? When you are in good health it opens up the doors to great coverage from some of the top insurance companies around the nation. Many offer great no exam life insurance policies. If you don’t smoke or drink, this can also go a long way to reducing your monthly life insurance payment. The key with purchasing a great life insurance policy is to do it while you are still healthy.
3. Your dependents.
If you are a parent with young children you definitely need to be thinking about who will look after them when you’re gone. When we are busy working to provide for our families it’s easy to forget that they will need to be cared for when we are gone. This can include things like their education needs as well as even the opportunity to relocate to be closer to other immediate family members.
All in all, the best time to purchase life insurance is today. Purchasing a policy can be a simple and affordable way to help achieve your overall personal financial planning goals. Whether you’re looking for a term, whole or universal life insurance policy you can shop and compare quotes using our state of the art tool on the right side of the page.
If you have any other questions, feel free to contact one of our agents. They would love to talk with you about any other questions you may have.