Do you already have life insurance coverage in place?
Life insurance. A policy that most people need but very few take the time to understand and purchase. You may think that you only need to think about getting a life policy when you have a mortgage, three kids, and a stable career. Think again. The reality is that many people of many different ages can benefit from a life insurance policy. So, what’s truly the best time to think about securing coverage?
When you’re young
One major factor in calculating life insurance costs is your age. The younger you are when you apply, the lower the monthly rates will be for the entire term. Believe it or not, but buying coverage in your 20s and 30s can save you thousands of dollars.
While you’re healthy
Buying life insurance with a death benefit when you’re healthy? You may think that this is counterintuitive and unnecessary, but life insurance premiums are about risk – if you are young and healthy, then insurers won’t see you as a huge risk, resulting in low rates. As you age, there is a greater chance risk of developing a chronic health issue, including diabetes, cancer, and heart disease. If a serious medical condition arises before you get coverage, you may not be able to get a policy at all.
When you have a life change
Do you have a mortgage? Recently had a baby? Got a promotion at work? These life events are a perfect time to consider buying or adjusting your life insurance to cover new needs. You can be proactive if you anticipate any life changes ahead, since looking into insurance early can save money.
Make sure you have the right life policy that steps in when your family needs it the most. Talk to a trusted life insurance advisor to determine your policy and coverage exactly. Contact Donald Weiss Insurance Services to get started on your coverage today.
