Life insurance coverage for all ages.
Life insurance is a valuable coverage for most people, yet it’s an insurance policy that people don’t often think about until they’re married and have kids. What many people don’t realize is that life insurance is age-banded, meaning that as each year passes, a policy gets more expensive. So, what is the right age to get life insurance?
Quite simply, the right time to buy life insurance is the time at which it would benefit you. For many people, life insurance gets increasingly beneficial once they are in their 30s. This age is a great time to purchase coverage because you are young enough to remain relatively healthy (meaning lower premiums), but you have assets and possibly dependents. You have many years left of life, and you want to protect your finances and family in one package.
Even though buying insurance under the age of 25 is less common, it can still be beneficial to many. Younger people tend not to have as much disposable income, fewer assets to protect, and may not be married or have kids. They need to focus on paying for their immediate expenses. However, buying life insurance young means you get to lock in low premiums for many years, which protects you throughout the time you get married and have children. In addition, you may choose to buy life insurance to pay off those pesky student loans or remaining debt that you may still have tied to your name.
If you are unsure about when to purchase life insurance, talk to the professionals at Lou Aggetta Insurance Services in Pleasant Hill. Our experts are ready and waiting to help you determine your life insurance needs and explain how a policy can protect your finances. Give us a call today to get started!