It’s not a big exaggeration to say that life insurance is one of the last things that people like to think about. When we grow older and our mortality becomes more apparent with every new ache and pain life insurance becomes something that weighs heavier on our minds.
Or when we start a family of our own, and have children that rely upon us for their well-being; this is another time when people often think about life insurance should they pass away and leave their loved ones wanting.
The truth of the matter is that there is no perfect time to buy life insurance for the sole reason that we cannot tell what the future might have in store. One of the biggest things that life insurance gives you is peace of mind that you loved ones and estates can be settled and taken care of should you pass on.
Of course if money was no object then you wouldn’t be reading articles on life insurance. With that in mind, there are better times to invest in life insurance as to benefit from better rates and to save money over a longer period of time.
Every Situation is Different
At LifeInsuranceBlog, our number one goal is to find the best life insurance companies for you. Whether you are in perfect health or have a preexisting condition, we’ll search from over 60 top rated companies in order to find the best policies available.
In the cliché to end all clichés, everyone is different. It’s important to look closely at your own situation rather than relying on averages the masses have set. For example, if you are a single bachelor late into your life with no immediate family you may not think twice about life insurance because you have no one to benefit from it. But if you are the breadwinner for a family then you have a vested interest to provide for them even if you should pass on.
Learn From Oscar Wilde
The Irish playwright may be known for his witticism and ability to take pretentious self-portraits, but his life insurance advice is largely forgotten – until now anyway. Wilde’s famous quote, youth is wasted on the young, is easily applied to life insurance.
Most people are much healthier when they’re younger. As you grow older you are more likely to have dangerous diseases, ailments, or to have succumbed to an injury that can lead to future complications. Most life insurance policies require a medical report and your coverage and rates can be adjusted based on what comes forth through the report.
If you get a term life insurance policy when you’re younger (and healthier) and decide to bump up to a whole life insurance policy later, your coverage will still be based on that first medical report and any ailments that may have befallen you are not factored in.
While it may not make a lot of financial or practical sense to purchase a life insurance policy as a healthy, able-bodied “youngster,” doing so can make sure that you can still be protected later on in life. But of course, this all depends on your life goals and ambitions. Take the time to take a critical look at your current position in life and where you expect to be years down the road.
It doesn’t matter if your best friend, neighbors, or colleagues think about taking out a life insurance policy. In the end it is up to you and your position.
When Should You Buy Life Insurance
Call us at 888-411-1329 to discuss your specific situation and we can help you get approved for life insurance.
By: Michael Quinn